MIAMI-Office vacancies have hit a two-year low in the Miami-Dade County office market. So say mid-year stats from Cushman & Wakefield.

The overall vacancy rate for the Miami-Dade office market fell to 16.8% at mid-year 2011, down from 18.6% reported at the end of the previous quarter. That’s the lowest level since the second quarter of 2009, when vacancy measured 16.1%. The vacancy rate for class A space declined to 18.2%, down from 20.6% at the end of the first quarter of the year.

“Between three and 10 years ago there was very little product brought online because residential real estate developers snapped up just about every available land parcel,” William Holly, an executive director at Cushman & Wakefield, tells GlobeSt.com. “We didn’t have an oversupply. For the last three years firms have been downsizing and going out of business. Now, we see a settling in the market and the beginnings of a recovery.”