The commercial real estate industry in Miami is certainly looking up. A recent article in Miami Today pointed to these contributing factors: the potential of the Port of Miami dredging project, the increasing leasing activity, and the interest foreign investors are showing in the area. According to Miami Today:
“The influx of international investors coming from Latin America, Europe and Asia to invest in South Florida’s real estate is impacting office and commercial values. … For example, Coral Gables’ overall office vacancy has dropped to 15%, he said, while other areas in Miami-Dade are facing vacancies as high as 25%.”
Plus, Miami has seen huge growth in apartment rentals, and the downtown scene has been gaining attractions like popular new restaurants and a noteworthy night life scene. As more people flock to South Florida, they’re also seeing the great potential of doing business near Miami.
If you’re opening or expanding your business in the South Florida area, contact Urbanism Group about local office space–including 814 Ponce, shown in the above picture.