Retailers Hungry for Space in Miami

by Isaac Benmergui, Esq on January 10, 2012

With an occupancy rate of 90 percent and an average $18.00 per square foot for rent, retailers in Miami need space. With big-box retailers fleeing the market, smaller businesses have a chance to grab a market share by appealing to a more targeted audience. Even with an area unemployment rate of 13 percent, business owners want to open shops. They just need space to do it. More often than not lately, entrepreneurs look to open discount apparel stores and food markets in smaller neighborhoods.

Although some retailers believe Miami’s market prices are a little too high given the country’s economy, the national averages are 94 percent occupancy rate with $21.84 per square foot for retail rental space.

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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