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Office Insight

United States | Miami, FL

Report | Miami Office Insight - Q4 2010

Summary

Light is entering the dark tunnel.  Long-awaited lease negotiations finally closed, and investment activity is picking up.  Still, 13% unemployment and one of the nation’s highest mortgage delinquency rates will burden the market for the foreseeable future.

Miami has posted three consecutive quarters of positive net absorption, after four years of loss.  This has helped incrementally reduce vacancy, but over 7 million vacant s.f. keeps the rate near 20%.  Virtually all markets should continue to cycle downward throughout 2011.  This environment is a godsend or a nightmare, depending on whether you’re a tenant or a landlord.

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