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
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