Miami

The sale of the 259,458-SF Pinnacle Corporate Park represents the highest price per-square-foot sale within the Cypress Creek submarket in the past decade.

It is so important for lawyers to have more expertise in real estate development to help clients during this post-pandemic, real estate grab and bag environment.

"I expect we'll see some announcements in the next few months of tenants leaving Brickell and downtown to go to Wynwood," Colliers International Executive Managing Director Stephen Rutchik said.

But new supply will provide a challenge for landlords.

A recent JLL report found 30% of all office space will be consumed flexibly by 2030, as a result of flexible lease terms and uncertainty caused by the pandemic.

Savills has hired Michael Fisher and Robert Teachey to oversee business development, transaction management and tenant representation.

"The office market has been undersupplied in South Florida for at least 10 years," said one South Florida real estate investor.

The company has purchased a 7,142-square-foot corner property, located on the premier retail high street, Lincoln Rd.