The Real Deal Miami

Reports: SF commercial still strong

July 31, 2008 12:06PM

Florida’s statewide office vacancy rate was 6.6 percent in the second quarter, compared to the U.S. average of 7.7 percent, according to Cushman & Wakefield reports. CB Richard Ellis and C&W reports put overall vacancy rates in Miami-Dade, Broward and Palm Beach counties between 5 percent and 8 percent. Average asking rental rates have dipped, however, especially in Broward County. C&W reports that the average rental rate there went to $8.87 per square foot, from $9.24 per square foot in the first quarter.