MIAMI—Everyone knows Miami retail is white hot. But what happens when you travel a little further north to Broward and even Palm Beach counties?
GlobeSt.com caught up with Lisa Ferrazza, a vice president at CBRE, to get some answers. She is currently responsible for the leasing, landlord representation, expansion and new business development for 700,000 square feet of South Florida shopping space.
Her bottom line: retail vacancy in Broward and Palm Beach counties has reached a six-year low. At the same time, average asking retail lease rates have exceeded the state average by over 5%.
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