From the South Florida Market Report: All appears to be well in Miami-Dade’s commercial real estate world. Transactions involving trophy office buildings in downtown Miami and Brickell have been spurred by dropping vacancy rates and rising rents, thanks to a lack of inventory. The hotel sector continues to sizzle with eye-popping deals including the sale of the Miami Beach EDITION for $230 million.
Global and national retailers are fueling demand for new and existing storefronts, leading to record-breaking sales in submarkets like Miami Beach’s Lincoln Road. Meanwhile, the industrial market remains a safe bet for investors seeking a stable place to park their money. [more]