Robust Leasing Activity and Steady Absorption Amid New Office Deliveries

Miami-Dade County's office market continued to make considerable gains during the second quarter of 2019 despite headwinds surrounding global economic uncertainty and growing concerns regarding a slowdown in the market within the coming year. As the economy gears up to enter its longest expansion period in U.S. history, Miami has shown more resiliency than the other South Florida markets, recording steady gains in absorption, robust leasing activity, and modest rent growth. Net absorption remained positive during the second quarter, with the CBD outperforming suburban submarkets by 12.4% due to large blocks of space being taken off the market in Downtown Miami and Brickell.Click Here to Download the Full Report