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Rufrano: Downtown Miami offices will be leased up within two years

February 02, 2011 03:56PM

Cushman & Wakefield CEO Glenn Rufrano believes that although the Miami commercial real estate market may take longer to recover from its crash, the positive indicators his firm is tracking elsewhere in the country will eventually “filter down here,” he told the South Florida Business Journal. “The drivers are different” in South Florida, he said, noting that real estate for the health care sector is an area to watch. Miami is lagging the nation in terms of office leasing, with a 20.4 percent vacancy rate downtown. But Rufrano said he expects those empty offices to be filled within two years. [SFBJ]