Office employers are continuing to increase staffing and make new leasing commitments after national expansion and local firms drive up vacancy recovery.
That's according to Marcus & Millichap's Q4 Miami-Dade Office Market Report, which says there's an increase in mom-and-pop firms leasing lower-tier properties in more affordable submarkets such as Northeast Dade, as opposed to big-name employers targeting amenity-rich buildings in Brickell and Miami Beach.
Recruitment will continue as an additional 15,500 jobs are expected to be added, which will expand Miami-Dade's employment base by 5.1% this year. With Microsoft and Blockchain.com among some of the upcoming move-ins, the metro's office fundamentals are expected to see an additional boost in the tech sector.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
