Miami-Dade and Broward counties' office real estate fundamentals don't look nearly as good as they did pre-pandemic, but there's no reason to panic. The recent interest from financial firms bodes well for the market.
Both counties saw negative net absorption as some tenants declined to renew leases. But the market is expected to start climbing back up this year, in part thanks to renewed confidence as financial giants like Blackstone and Goldman Sachs are expanding to South Florida, according to new JLL data for last year's fourth quarter.
JLL said the outlook is positive, even though fundamentals don't exactly show it right now.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
