Miami, Fort Lauderdale office markets in recovery, according to survey

The market for office space in Miami and Fort Lauderdale is leading the rest of Florida and a bright spot in the Southeast, according to a survey conducted by PricewaterhouseCoopers, the South Florida Business Journal reported. While vacancy rates remain high, at 19.2 percent in Miami-Dade County, 17.2 percent in Fort Lauderdale and 21.3 percent in Palm Beach, investor confidence is high. As for other sectors of the South Florida commercial market, Miami and Fort Lauderdale showed a recovering retail market, and Miami was showing strength in the multifamily sector. [SFBJ]