Most importantly, users are not contracting as they were during 2008 and 2009. We are seeing commitments for the opening of new offices and expansions. Users are however finding ways to use space more efficiently than during the past decade and making sure leases provide flexibility to navigate more effectively through cycles.

LeClaire: How has Blanca Commercial Real Estate been able to succeed as a start-up in this economy?

Blanca: We launched Blanca Commercial Real Estate in April 2009 and in our company’s tenant representation advisory practice (about 150,000 rentable square feet closed this year and another 200,000 rentable square feet in progress for 2011), we help our clients secure space that best aligns with their business goals.

Making sure overall cost of occupancy is highly competitive is one of the metrics but often times the cheapest space is not the optimal real estate solution for the user. There are multiple and diverse drivers for companies when they evaluate and decide on the optimal space solution and therefore understanding and dissecting these drivers is key to finding and negotiating the best deal for any space user.

In our office agency leasing practice currently at about 900,000 rentable square feet, we have closed this year an additional 450,000 rentable square feet of leases. Although tenants are certainly focused as they should be on getting the best economic deal, oftentimes tenants are willing to pay a premium for top quality product to secure the space that best aligns with their brand and their long term business goals.

LeClaire: What are your clients most interested in finding when it comes to commercial space?

Blanca: Many factors—economic and subjective—are considered when clients evaluate space options. They want a workplace that aligns well with their brand and that fits their business goals and objectives, a convenient location for clients and employees, strong ownership, and a competitive overall cost of occupancy with a lease that provides flexibility. Lately we’ve seeing increased interest in environmentally-sustainable space as well.

LeClaire: How does the present and future of commercial real estate in Miami look to you?

Blanca: We’re seeing more interest from companies that are new-to-market, especially those who see the potential in Miami and the Americas over the next decade. Miami has some very valuable assets to offer, notably the diversity of our population—multi-cultural and multi-lingual—and international diverse business base. The expansion and renovation of Miami International Airport and the Port of Miami will also drive our continued growth. A majority of Miami businesses are actually small and mid-size entrepreneurial companies, complemented by more than 1000 multinational firms with a local presence. In many cases, Miami serves as those global firms’ stepping stone to Latin America and the Caribbean. I’m bullish on Miami—and our real estate market.