The Real Deal Miami

Miami commercial real estate could improve in 2012

January 04, 2012 12:00PM

Above: downtown Miami and the 1450 Brickell office tower

This year could mean an improvement for Miami’s commercial market, which has already seen gains in areas like retail and industrial, according to Miami Today. “It’s a very vibrant market right now, with a tremendous amount of capital looking for deals,” said Warren Weiser, co-founder of Continental Real Estate Companies. “The money side is fairly disciplined given what we’ve gone through before.” The industrial market has seen strength as a number of companies position themselves for the expansion of the Panama Canal, which is slated for completion in 2015 and will mean a slew of new large ships with access to the Port of Miami. On the retail side, Miami-Dade’s vacancy is the lowest in Florida, according to Howard Taft, managing director of Aztec Group. [Miami Today]