Office market continues to hold its own in South Florida

Office market continues to hold its own in South Florida

February 08, 2008
By Robyn A. Friedman | The Real Deal

According to reports recently issued by brokerage CB Richard Ellis Inc., the South Florida office market is holding its own

“The fundamentals in the commercial section are still very strong,” says Scott Sime, managing director of CBRE’s Miami office. “It’s difficult to even find Class A space in some of our local submarkets, and I think there will be record-setting rent numbers achieved in certain markets.”

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How will the market do for the rest of 2008?

Even though Miami’s home and condo construction industries are in a decline international trade and tourism have been bolstered by the weakening of the dollar. This bodes well for the office market.

“We’ll consistently outperform the American economy,” Sime says. “I feel confident that the real growth of Miami-Dade County is yet to come.”

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