The Real Deal Miami

Slow but steady gains

Miami’s major office markets recovering from crash, but high vacancy rates still linger
By Chip Barnett | October 15, 2014 11:15AM

Metro 1's Tony Cho

Metro 1’s Tony Cho

From the South Florida Market Report: The residential development surge in Miami’s urban core is driving land prices to levels that make it difficult to build office space.

In July, for example, an Argentine investor bought 1.25 Downtown acres for $125 million, a price tag too hefty for most office developers. And insiders told The Real Deal that wasn’t the top price offered for the parcel. [more]