Through the economy’s most recent declines the South Florida office market has seen improvements. Leasing activity rose 9.5 percent to 1.8 million square feet in the third quarter according to a recent report released by Studley. The bulk of the increase was a result of Miami’sB leasing activity jumping up to 60.1 percent to 1.1 million square feet in the second quarter due toB the new office developments inB Downtown Miami andB Brickell.
And although there have been improvements things still lie in the hands of tenants. The average asking rent isB $27.33 per square-foot,B $31.81B for Class A space andB $29.78B in Miami; which happens to beB $5.10 more the average in Broward County andB $4.65 more than that in Palm Beach County.
For more information on commercial real estate trends be sure to visit our website www.morrissegroup.com.
Source: The Real Deal
Google Images
Tags: commercial real estate, Commercial Real Estate Trends, office market, office property, South Florida commercial real estate, South Florida commercial real estate services
