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How No New Construction Is Impacting This Hot Office Market

MIAMI—JLL's Brent Miller offers insights into one of the most visible signs, but it goes deeper.

By Jennifer LeClaire | jenniferleclaire | Updated on January 06, 2017

Photo of Brent Miller Brent Miller of JLL

MIAMI—When construction slows, demand rises—at least in theory. While 1.1 million square feet of newly-built office space in Downtown Miami sat mostly dark after the Great Recession, most Florida cities didn’t have that level of overbuilding.

The Tampa Bay area, particularly the Westshore submarket, has been one of the hotter office markets in the state—and is not subject to overbuilding. In fact, there’s no new construction underway on the office front. GlobeSt.com caught up with JLL‘s Brent Miller to get his thoughts on the ripple effect in part one of this exclusive interview.

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