Tenants Hold Upper Hand in South Florida

by Isaac Benmergui, Esq on November 3, 2011

Leasing activity is on the rise in South Florida, especially in the Miami market where the number of new leases jumped 60 percent from the second quarter. In Class A available space, the numbers fell 2.4 percentage points to 23.3 percent.

Although the average rate is $27.33 per square foot and $31.81 for Class A space in the rest of South Florida, Miami, with its attractive new office developments, commands an average $29.78 per square foot – approximately $5.00 more than in Broward or Palm Beach counties.

Still the markets favor the tenants with 2.5 times more the amount of Class A space available than five years ago and numerous concessions by landlords to entice renters to sign.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

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