MIAMI—It's a record—at least for the Miramar Park of Commerce. The park's leasing team, with help from Jones Lang LaSalle (JLL), has driven up the occupancy rate to 98%. Since July, 80,000 of the 100,000 square feet of available office/flex product in the Park has been leased.

Currently there is only 125,000 square feet of second generation space available within the 5.2 million square in the Miramar Park of Commerce, which is the largest locally owned and managed business park in South Florida. Of that 125,000 square feet, 88,000 is warehouse space and 27,000 square feet is flex space.

According to Jonathan Kingsley, senior vice president at JLL, a spike in population growth, a positive economic outlook, an emphasis on global distribution by companies in South Florida and limited new development of class A flex properties are among the drivers contributing to an increase in demand for space. Miramar Park of Commerce is a prime example of that trend.