Miami, FL. Credit: frank peters/Adobe Stock Big Law's Rush Into Florida Has Slowed, but Miami Leasing Activity Remains Hot
"Miami is not really oversupplied," JLL's senior manager of Florida research Zander El-Hindi said, comparing the city to markets like Nashville, Atlanta and Charlotte with recent development booms. "We're really undersupplied."
January 25, 2024 at 05:37 PM
4 minute read
Real Estate
What You Need to Know
- Migration of business took the Miami's commercial real estate market to new highs in 2022.
- But the uptick slowed in 2023, showing signs of a more stable market and less migration to the city.
- Regardless of the slowdown, leasing activity is still hot, even pricing local tenants out of the downtown area.
In a year where remote work, construction slowdowns and tighter budgets were a common theme in corporate America, leasing activity across the country slowed down in 2023, but law firms in Miami kept scooping up office space.
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