Historically Low Unemployment Rates Spurs the Need for More Office Space in Miami-Dade
The office market in Miami-Dade County has remained steady since the beginning of 2018 and is showing signs of recovery in the second quarter. The vacancy rate for Miami-Dade’s office market currently sits at 9.3 percent, a 60-basis point increase year-over-year.
Broward County’s office market has cooled down in the second quarter of 2018. Vacancy rates have remained below 10 percent since the beginning of 2017 and currently stand at 9.8 percent, a 30-basis point increase year-over-year.
Palm Beach’s office market activity has slowed down since the beginning of 2018. The vacancy rate for office space in Palm Beach County currently stands at 11 percent, a 10-basis point increase year-over-year.
Download your complimentary copy and learn more about:
- Regional Market Transactions & Highlights
- Miami-Dade, Broward, and Palm Beach Counties
- Vacancy & Absorption Rates
- Notable Leasing Activity
- User & Investment Sales
- Submarket & County Breakdowns.