Total vacancy was 10.5% in Q2 2018, declining 30 bps quarter-over-quarter and 50 bps year-over-year.
Net absorption (move-ins/move-outs) during Q2 2018 was 144,524 sq. ft., with 91,257 sq. ft.in the downtown submarkets and 53,267 sq. ft. in the suburban submarkets.
New-to-market tenants are currently seeking to occupy over 270,000 sq. ft. in the coming months.
Tenants seeking space in the market have requirements for 1.4 million sq. ft. Business services, which includes co-working providers, legal and financial services were the top industries in the market.
Miami ranked #8 out of the top 50 metros in the U.S. for “Best Places for Job Seekers in 2018” from data collected by job site Indeed on CNBC.com