Miami office insight - Q2 2018

In the meantime, Class A assets are still performing well on a year-to-date basis, even though this past quarter over 100,000 square feet of Class A space was vacated. Here, too, a significant number of small size tenants under 5,000 square feet made up the bulk of move-outs and downsizings. Despite rising vacancy rates across most submarkets, average direct asking rents remain stable. With new Class A office product in the pipeline for both Miami’s CBD as well as the suburbs, landlords may hold off on lowering asking rents just yet.

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