New Office Developments Continue to Surface in Miami-Dade County

The office market in Miami-Dade County stabilized in 2017. Vacancy rates have hovered around 9 percent throughout the year with full-service rental rates historically-high at $34.18 per square foot. Class A rental rates have also lingered around $41 per square foot throughout the year. Net absorption year-to-date reached 1.3 million square feet, reflecting the continuous demand by office-space users in 2017.