Retailers Are All Over The Miami Commercial Real Estate Market For Opportunities Within The Region
With vacancy rates that are relatively low and occupancy rates that are relatively high, the Miami commercial real estate market is looking to be the most ideal option today. Furthermore, it is only the only market within Florida that has occupancy rates that exceed 90 percent while rental rates go over $18 per square foot when the average rental rent across the country is noted at $21.84 with an occupancy rate of 94 percent.
Even though the unemployment rate stands at 13 percent within the region, alongside its consumer confidence which has definitely seen better days, the on-going recovery has been observed to be more rapid than any other market within the United States. And despite the fact that vacancies and occupancy rates for Miami commercial real estate properties are not at the levels that they were before the recession struck, it is safe to say that they are well on their way to getting back to where they once were.
In fact, retailers have been extremely eager about being able to set the stage for profitable ventures that will only be able to push through once suitable Miami commercial real estate opportunities have been made known to them and that is exactly why there has been such an increase in activity as far as a wide range of retailers calling in to find out what the market has in store for them.
The retailers that seem to have taken on such an interest in Miami are often those who are set on discount retailers as well as grocery stores across the region. As a matter of fact, these types of retailers have managed to fill in a lot of the vacancies that were left when big box retailers had gone out of business. Nevertheless, the list of retailers continues to grow as the opportunities available are still quite plenty.
It goes without saying that price is definitely a hot topic when it comes to negotiations that are being made. There are retailers who feel that the prices are still not at the level at which they feel is right for these Miami commercial real estate options even though many agree that the current prices are low enough.
Joan Vonnegut
Miami Commercial Real Estate
