• Leasing activity reached almost 680,000 sq. ft., demonstrating continuing demand for office space in Miami.
  • Current tenant requirements total 1.2 million sq. ft., with financial services, business services (which includes co-working providers), and insurance being the top industries in the market.
  • Net absorption during Q4 2019 was 282,290 sq. ft., with 144,295 sq. ft. in the downtown submarkets and 137,995 sq. ft. in the suburban submarkets.
  • New office construction is scheduled to deliver 2.0 million sq. ft. between 2020 and 2022, which will increase total market RBA by 4.7%.