The Real Deal Miami

Miami retail lures developers

August 26, 2011 10:05AM

Miami-Dade’s retail market is one of the strongest in Florida, leading
the state in occupancy rate and boasting its lowest vacancy rate,
according to a report from Crossmand & Company. Miami-Dade County has
an occupancy rate of 90 percent along with rental rates above $18 per
square foot, both of which lead the state. “Miami is on fire,” said Greg
Masin, senior director of retail services at Cushman & Wakefield.
“The phone is ringing with retailers who want to be here. Some people
are still hurting, but in general this town is healthier than people
give us credit for.” One submarket that has seen strong growth in the
retail sector has been Miami Beach, spurred by the entry of new
project 1111 Lincoln
. [Miami
Herald]