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Relative supply and demand most aligned in the 10,000 to 30,000 square foot range

  • ​Relative supply and demand (the distribution of supply and demand across submarkets) align most closely in the middle segment of the office market (10,000 to 30,000 square feet), with the CBD supplying the lion’s share of space.

  • While the CBD boasts the highest relative demand for small space, the relative supply of spaces under 5,000 square feet is more abundant in the Miami Airport and Coral Gables submarkets.

  • In terms of spaces in the 5,000 to 10,000 square foot range, Miami Airport comprises about a quarter of Miami’s supply; however, there is little current demand for such space in that submarket.

  • Similarly, one property in the 30,000 to 50,000 square foot range sits available in Coral Gables, with no immediate demand for it in the market.

  • Finally, relative distribution of supply and demand for large spaces over 50,000 square feet aligns neatly across submarkets; however, supply continues to outpace demand in absolute terms.​

Source: JLL Research

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