Miami-Dade Office Market/Submarket Statistics

The Miami-Dade office market has continued a slow recovery with overall absorption reported negative during the First Quarter of 2011. Miami-Dade County reported an overall vacancy rate of 18.6 percent in the First Quarter up slightly from 18.5 percent in the First Quarter of 2010. According to Cushman & Wakefield, the Northeast Dade Submarket (including Miami Gardens) has a lower office vacancy rate (14.7 percent) than Miami Dade County but also reported a negative absorption of 42,901 s.f. in the First Quarter of 2011.

Currently available lease office space in Miami Gardens includes 30,000 s.f. ($19.95 psf) in Golden Glades Office Park and 2,494 s.f. ($18.00 psf) in Park Centre.