CBRE: Limited construction of office space underway in Miami
The 1Q15 Marketview of CBRE Inc highlighted how investment in Miami office space has been growing rapidly at a time that new supply through construction is limited. Across the metropolitan area, the vacancy rate is 14.0%. Total inventory is 47.1mn square feet. Net absorption in 1Q15 was 137,845 square feet: some 554,000 square feet is under construction. Average rents are USD30.8 per square foot.
Source : 31 March 2015/CBRE/Miami/OFF