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Office Insight

United States | Miami, FL

Report | Miami Office Insight - Q4 2016

Summary

Despite a slowing in leasing activity in Q4, downtown Miami landlords remain confident in overall market fundamentals. The quarter saw increasingly efficient lease transactions, and correspondingly low absorption. Roughly 135 transactions of a median 1,750 square feet were signed over the last three months of 2016.

The market's largest office building, Southeast Financial Center, sold in Q4, capping a year that saw a significant volume of county assets trade to foreign buyers at heady prices. Expect the upward pressure on already record-high Class A asking rates to remain significant.

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