A healthy demand and tightening availability for Miami retail properties have resulted in rapidly growing rents and low vacancy rates, making retail among the strongest sectors of Miami’s commercial real estate market.
“South Florida’s economic growth since the recession and the number of new people moving to the state have really ramped up retail.”
– Senior Economist at TD Bank Micheal Dolega
MIAMI OUTSELLS NEW YORK & LOS ANGELES
The Miami metro area, which includes Broward and Palm Beach counties, has more sales per square foot for non-anchor tenants than any other metro area in the U.S.
1 Miami: $768
2 Washington, D.C.: $608
3 New York: $581
4 Denver: $579
5 Los Angeles: $566