Brickell/Downtown Miami Neighborhood News

Miami Office Space – Huge Inventories Are Around The Corner

Just when we start making a dent in the huge inventories of residential condo units in downtown Miami, we are about to be flooded by commercial office space.  Several projects are coming on line next year, resulting in approximately 2 million square feet of office space.  Under good economic circumstances, the normal absorption rate of office space is around 250,000 square feet.  Needless to say, tenants are going to have a favorable advantage for negotiating leases for a very long time.