Office leasing in Miami is on track for one of its slowest years since the pandemic hit the country.
It comes from Avison Young's third-quarter market report that evaluated the performance of the asset class. As of September, leasing inched just over 2.5 million square feet year-to-date. At the same time in 2022, the figure was around four million and just under that mark a year later.
"This is partially a result of office users re-evaluating their footprint. The average deal size this year dropped to 3,682 sf compared to 4,581 sf last year," Avison wrote.
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