Figures

Miami Office Figures - Q2 2024

July 9, 2024 5 Minute Read

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  • Tenants continue to take occupancy of space leased during the height of the market. Absorption is expected to continue to rise when 830 Brickell delivers later this year.
  • Class A availability across Miami decreased 50 bps y-o-y to 20.3%. Wynwood’s total vacancy fell 1,100 bps y-o-y to 24.0%; a record low for the submarket.
  • Rent growth in Miami-Dade in 2024 saw an uptick of 150 bps quarter-over-quarter and on a year-over-year basis a 560 bps rise to $54.91/sq. ft..