Commercial Real Estate Report - Miami, FL [Office]

Property Type

View market and submarket information on Office space in Miami, Florida. Our detailed reports provide commercial real estate information like commercial property rates, commercial vacancy rates, asking rents, current inventory, lease terms, employment data and more in Miami, Florida.

Boundaries

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Recent Sales New Construction Highlight Submarkets

Latest Quarterly Reports (Q1 2013)

Miami, FL - Entire Metro
Submarkets
North Miami -170 bps
Brickell -100 bps
Coral Gables -100 bps
Downtown -50 bps
Biscayne Blvd. -20 bps
Sunset/Kendall -20 bps
Hialeah 0 bps
South Miami/Gables 0 bps
Airport West 70 bps
Coconut Grove 180 bps

Recent Sales

Cap Rate Trend

Sales Trend

Q1
2013
Q4
2012
Q3
2012
Q2
2012
Mean 7.9% 7.5% 9.8% 6.4%
Median 5.4% 6.6% 7.9% 6.9%
12 Month Rolling 7.6% 7.5% 8.1% 8.2%

Commercial Real Estate News

Headline Date
 

Recent Rent Observations

Location ID Class Rent
Biscayne Blvd. 35080 A $28
North Miami 55390 BC $20
Brickell 39690 A $39
Biscayne Blvd. 39780 A $29
Coconut Grove 95840 BC $31
Coral Gables 45660 A $37
Coral Gables 46370 BC $30
Airport West 96610 BC $25
Sunset/Kendall 45500 BC $29
Airport West 40800 BC $21

Change From Previous Quarter

Market Rent Vac Inv
Miami 0.0% -20 bps 0.0%
South Atlantic Region 0.0% 0 bps 0.0%
United States 0.0% 0 bps -0.0%

Metro vs. Region 0.0% -20 bps 0.0%
Metro vs. US 0.0% -20 bps 0.0%

Latest New Construction Updates

Location Size
Coral Gables 170,000 - 330,000
Coral Gables 0 - 170,000
North Miami 0 - 170,000
North Miami 0 - 170,000
Sunset/Kendall 170,000 - 330,000
Brickell 170,000 - 330,000
Coral Gables 170,000 - 330,000
N/A 490,000 - 650,000
Airport West 0 - 170,000
Airport West 0 - 170,000
View all Construction Projects

National Office Real Estate Trends

Vacancy Trends
Supply and Demand
Inventory Change
Inventory Change

Metropolitan Office Rankings (Q1 2013)

Based on 190 U.S. Markets
Value:
92. Waco, TX 16.7%
93. Oklahoma City, OK 16.8%
94. Baltimore, MD 17.0%
95. Harrisburg, PA 17.0%
96. Lancaster, PA 17.0%
97. Miami, FL 17.0%
98. Austin, TX 17.1%
99. Chico, CA 17.1%
100. Manchester-Nashua, NH 17.2%
101. Kansas City, MO 17.3%
102. Tulsa, OK 17.3%

Avg Annual Growth Rate (2013 - 2017)

Market Rent Vac Inv
Miami 1.0% 1,744 bps 0.4%
South Atlantic Region 0.9% 1,676 bps 0.8%
United States 0.6% 1,704 bps 0.9%

Metro vs. Region 0.1% 68 bps -0.3%
Metro vs. US 0.4% 40 bps -0.5%