Office Market Strong – Miami Today

Miami-Today-2

Source: Miami Today, April 12, 2007

OFFICE MARKET STRONG: High demand is supporting the growing inventory of office space in Miami-Dade County, according to CB Richard Ellis’ quarterly report. The total vacancy has declined 3.5 percentage points to 6.9% since the first quarter of 2006. In turn, rents have increased an average of $1.84 per square foot to $27.40 for full-service leases. CB Richard Ellis Managing Director Scott Sime said the Miami-Dade office market will soon hit rental rates “never before seen in our city.”

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