Disaster brewing in Miami’s commercial real estate market
OPS_admin | Dec 30, 2009 | Comments 0
It’s a great time to be a commercial tenant in downtown Miami or the Brickell Avenue financial district, thanks to a glut of new office space that will begin flooding the market next year.
But for everyone else in the downtown commercial real estate game — lenders, brokers, bankers, construction workers — there’s a disaster brewing, the likes of which hasn’t been seen since the 1980s.
The recession already has businesses downsizing or closing. At the same time, there are no new tenants moving into the area and vacancy rates have soared to 15 percent — a level unseen since 2004.
Full Story Disaster brewing in Miami’s commercial real estate market | McClatchy.
Filed Under: Economy - Labor


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