MIAMI-Ask 10 people for their take on Downtown Miami’s office market and you’ll get at least three different answers. Some pundits expect a faster recovery than others—and some don’t predict much of a recovery for the next decade.
The overall office vacancy rate for Miami-Dade County fell to 18.1% at the end of the third quarter of 2010, down from 18.4% reported at mid-year, according to Cushman & Wakefield. This decline marked the second consecutive quarter of falling vacancy rates after peaking first quarter this year. But those stats are not convincing all the local brokerages that good days are just around the corner in 2011—or even 2015.
GlobeSt.com caught up with CresaPartners’ Miami Founding Partner David Prev
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
