Oct 17, 2019 - 0 Comments - Office Property -

Report: Miami Office Property Inventory Increased 13.5% Over 10 Years

An office property study was recently published by COMMERCIALCafé that details how much office space the top 20 U.S. markets have added in the past 10 years. Perhaps more interestingly, they also look at where this space was added within these markets, central business district (CBD), urban, or suburban.

In the state of Florida, 30.5 million square feet of space was added, with 77% – the biggest share – in suburban locations. Among the observations for Miami specifically:

  • Miami’s office property inventory increased by 13.5% over the past 10 years
    • 58 buildings added
    • 7.8 million additional square feet
  • Suburban areas grew by approximately 11%
    • 40 properties added
    • 4 million additional square feet
  • Miami’s CBD and its urban areas added the balance
    • 18 properties added
    • 3.7 million additional square feet.
Print Friendly, PDF & Email