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International Trade Buoys Office Market

MIAMI-Local brokers tout the city as a preferred location for Latin American firms.

By Carl Cronan | Updated on September 19, 2008

(Carl Cronan is editor of Real Estate Florida.)

MIAMI-With a local inventory of 40 million sf, it takes a lot to create a sharp turn in vacancy within Florida’s single biggest office market. However, the prospect of at least two million sf of new space opening over the next two years might be enough to concern building owners.

Rather than dwelling on which existing buildings might become decimated as certain tenants clamor for shiny new space, along with competition from neighboring markets, office brokers in Miami-Dade County see plenty of upside potential in years to come. It’s still the top choice for foreign companies wanting a gateway to US trade markets, and they contend that may never change.

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