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GlobeSt.com UPDATE: Sublease Space Grows to 674,864 SF

MIAMI-Year-to-date statistics show a 50.3% increase in the availability of sublet office space in just the Miami-Dade County market, according to a new analysis by Cushman & Wakefield of Florida.

By David R. Corder | Updated on June 15, 2001

MIAMI-A wash of subleased office space is flooding the Miami-Dade County market. Year-to-date, the total sublease space in Miami-Dade is 674,864 sf, up from 528,772 sf in the first quarter and 335,275 sf in the fourth quarter last year.

Market trends tracked by Cushman & Wakefield of Florida Inc. show a 50.3% increase in the year-to-date availability of sublease space over the amount on the market as of Dec. 31 last year.

In the exclusive Brickell Avenue submarket, for instance, local affiliates of Madrid, Spain-based Telefonica S.A. are vacating around 60,000 sf of class A product.

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