MIAMI—Transwestern just issued its Miami-Dade County fourth quarter office market reports. The news is good overall.

Downtown Miami’s overall vacancy rate sits at about 22% on about 40,000 square feet of absorption. The average quoted rental rate per square foot was $41.24 for class A buildings and $26.10 for class B buildings.

“Two things stood out the most from the report: Specifically with regard to Miami’s CBD, strong absorption in the fourth quarter, and, considering the additions of three new buildings in the last year and a half, the fairly moderate vacancy rate in class A products,” Walter Byrd, managing director of Transwestern, tells GlobeSt.com. “If you were to remove the new product out of stats, the vacancy rate is very healthy for this market.”