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Old Posted Mar 11, 2024, 4:49 PM
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Altoic Altoic is offline
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Join Date: Nov 2020
Location: Florida
Posts: 1,513
That's a bummer, hopefully they find a tenant soon enough. But this was expected, Miami is not immune to the office market affecting the entire U.S. Also, the notion that Miami is a corporate center is false and was never mentioned by anyone here. But even if the market is reaching it's end for now, it'll be unfair to not mention the amount of companies who decided to create small to even large offices here. Or the fact that 830 Brickell is fully leased and about to end construction or that Citadel has moved here.

It isn't fully doomsday though, here's a snippet from the article:

"Even with the recent choppiness, Miami’s office market remains one of the country’s strongest. It finished last year with the highest annual office rent growth of all major U.S. markets. The city’s annual net absorption, which looks at how many tenants moved in versus moved out, was the nation’s third highest, netting more than 500,000 square feet of occupied space. The office vacancy rate of 8.4% is among the lowest in the U.S."
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