Downtown Miami office glut looms


From the September issue:

Commercial landlords were really looking forward to a Miami autumn. In
the spring, CB Richard Ellis released a study indicating that asking
rents in downtown Miami had risen 29 percent, faster than anywhere else
in North America.
But a sluggish economy and the impending arrival of three huge new
office towers over the next 18 months means downtown may be on the
verge of a downturn. Indications exist that the market is already
cooling off significantly.

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