Miami, FL Commercial Real Estate
South Florida commercial real estate has ranked among the country’s best markets for fiscal stability, more than once. Miami is the main driver of population and business growth across the region. The city’s business-friendly environment continually draws both national and international investors. Miami’s location, climate, and diverse cultural influences have sustained a healthy regional retail sector, as well as the office and industrial real estate development that is fueled by the city’s strong professional services segment.See our listings
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The average rent for commercial real estate for lease in Miami is $32.66 per square foot per year. There are currently 1,209 availabilities listed locally, spread across 10 trophy grade and 148 class A commercial assets, as well as 274 class B and 78 class C properties. Out of the total number of buildings with vacancies listed in our inventory, 23 are LEED-certified. The average size of a commercial space for lease in Miami is 5,926 square feet.
Dolphin Commerce Center
1 Space / 14,489 Sqft
Sunset Office Park
1 Space / 1,119 Sqft
11150 NW 32nd Avenue
1 Space / 123,125 Sqft
12 Spaces / 34,107 Sqft
6 Spaces / 54,141 Sqft
6 Spaces / 11,601 Sqft
13 Spaces / 31,131 Sqft
5 Spaces / 16,538 Sqft
The Forum of Sunset - Back Bldg
2 Spaces / 2,251 Sqft
Miami Commercial Real Estate Market Stats
The highly popular "Cruise Capital of the World" is also home to a vibrant commercial real estate market — a sunny, sprawling expanse of iconic architecture, which houses everything from multifamily to office, to retail, with no shortage of mixed-use developments in the making.
Miami city proper is home to a population of more than 400,000 residents, as well as some of the most highly valued Florida real estate. Commercial space for lease in Miami commands rents of $32.66 per square foot per year, on average. Listings vary greatly in size across property types, and include spaces as small as 95 square feet or as large as 311,479 square feet. Locally listed commercial spaces total 7,658,029 square feet, with rents starting at $9.5 per square foot per year.
Listings on the Miami market include 148 class A commercial properties, and 10 that are class A+. The average rental rate for class A commercial space here is $39.08 per square foot per year, while class A+ rentals command $62.30 per square foot per year. The average rent for class B commercial space for lease in Miami is $28.24 per square foot per year, while rents for class C commercial property listed locally average $26.11 per square foot per year.
Commercial real estate news
From our blog
April 30, 2020
Real estate investment firm First National Realty Partners recently announced the purchase of The Coastal Building in Red Bank, NJ. The property will add 29,178 square feet of Class A Jersey Shore office space to the company’s portfolio.Read more
April 24, 2020
Cushman-Wakefield completed the $91 million sale of Techwood Business Center in Hanover, Md., on behalf of the seller, RREEF Management LLC. Amazon was the buyer in the deal, adding the Baltimore business park to its expanding portfolio in the state of Maryland.Read more
April 14, 2020
Atlanta-based Cousins Properties has completed the sale of Hearst Tower. The Uptown Charlotte office property changed ownership to locally based Truist Financial Corporation. Commanding a gross price tag of $455.5 million, the building sold for roughly $470 per square foot.Read more