27 February, 2018
terms of future office deliveries, Miami’s submarkets remain clouded in
the delivery of Two and Three MiamiCentral’s 315,000 square feet at the start
of 2018, no additional office space deliveries are expected in the CBD until
2018, an additional 225,000 square feet of office product is expected to
deliver in Coral Gables and Coconut Grove.
• As of
2019, the only credible space that will be delivered is a combined 76,000
square feet in Wynwood (Wynwood 25 Annex & The Wynwood Garage).
other words, the
center of gravity for future deliveries seems to be located in suburban and
terms of proposed office space, Downtown tops the charts with a projected
1,363,000 square feet scheduled for delivery in the next four to five years,
followed by another 330,000 square feet is Miami Airport.
given Downtown’s current vacancy of 22.0 percent, its proposed deliveries
remain extremely tentative.
Note: Burger King’s new
headquarters in Miami Airport is a build to suit. Their
current space at 5505 Blue Lagoon Drive will be vacated by the end of 2018.
Source: JLL Research