The Real Deal Miami

All Aboard’s downtown Miami station to affect neighboring development

Demand for nearby office space to increase, experts say

January 07, 2015 11:18AM

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The All Aboard Miami site

The All Aboard Miami site

Plans for MiamiCentral, downtown Miami’s All Aboard Florida train station, may affect development in the area.

Local experts predict that All Aboard’s plans for a passenger train between Miami and Orlando could prompt a rise in office, retail and residential properties near the future station, according to a published report.

All Aboard’s connectivity to Fort Lauderdale is a contributing factor to the demand for office space in the area, Miami Today reported.

“I’m hearing interest from my client base for Class A office use,” said Tom Capocefalo, corporate managing director for commercial real estate firm Savills Studley’s Miami office. “Whereas now, rather than looking at conventional office building along Brickell and the downtown core, we are being asked by clients, ‘Hey, anything out there closer to the station to be built?’And the reason being, it’s perceived to be the center of the new business activity in general.” [Miami Today]Katherine Kallergis

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