MIAMI | Banco Santander Tower | 765 FT | 40 FLOORS

[Altoic]

Originally Posted by ChiND

One needn”t be the Prophet Daniel (or Paul Simon) to see the writing on the wall…

https://www.bisnow.com/south-florida/new...-low-as-pandemic-era-deals-dry-up-126315

Miami's Office Leasing Is At A 4-Year Low As Pandemic-Era Deals Dry Up
South FloridaOffice

October 16, 2024 Matt Wasielewski, South Florida

Miami is on track to have its worst year of leasing activity since at least 2020 with a dearth of large deals and the average size of a new lease down to 3,682 SF.

Do you read the articles you send?

Miami’s office market remains in a stronger position than most other metros across the country, with vacancy down just under a percentage point this year to 15.8% and the highest office attendance numbers in the country. Nationally, the office market is 22.2% vacant, per JLL.

“While office leasing in Miami has slowed down this year, the city still ranks third in the country for utilization (foot traffic) and remains above the national average according to Avison Young’s Office Busyness Index,” Jason Steele, Avison Young’s Florida research lead, said in a statement.

“We anticipate this slowdown to be short lived as economic headwinds such as the upcoming election and the anticipated interest rate cuts are ironed out over the next few months,” he said.

The constant hate for Miami is annoying because nobody here is bullish about each office tower, we're just posting the news and the facts. Miami has office problems like the rest of the country.