Office Market Scores With Southeast Sale, But Some Asset Classes Lack Trophy Transactions
The real estate market remained strong this year, even though some asset classes experienced lower sale prices and lacked trophy transactions.
October 23, 2017 at 12:00 AM
9 minute read
The preeminent deal in the past two years — the $516 million purchase of the Southeast Financial Center in downtown Miami — speaks of the enduring demand by foreign buyers for South Florida office space.
Moreover, it speaks to the health of the region's office market.
It's strong thanks to high demand and limited supply, which in turn push up rental rates, said Alex Zylberglait, senior managing director of investments for Marcus & Millichap in Miami.
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