{"id":1004598073,"date":"2022-09-05T04:46:32","date_gmt":"2022-09-05T12:46:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004598073"},"modified":"2022-12-08T21:37:32","modified_gmt":"2022-12-09T05:37:32","slug":"miami-office-transaction-volume-was-low-in-h1","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/","title":{"rendered":"Miami Office Transaction Volume Was Low in H1"},"content":{"rendered":"

\"\"<\/a>Year-to-date through June, Miami\u2019s office transaction volume reached $995 million, the lowest figure among gateway cities, according to CommercialEdge<\/strong> data.<\/p>\n

Miami\u2019s deal volume in the first half of the year shrunk significantly compared to last year\u2019s findings: at the same point in 2021, office sales in the South Florida metro amounted to $1.25 billion. While off to a slow start<\/a> in the first quarter of 2022, the following three months were more eventful in terms of investment activity. On a national level, deal volume rose from $30.03 billion recorded year-to-date through June 2021, to $43.71 billion a year later.<\/p>\n

While transaction volume is down on a year-over-year basis, the average price per square foot has risen in Miami and reached $356 per square foot year-to-date through June\u2014marking a 21 percent uptick since mid-2021. The Magic City was the third-cheapest among gateway markets in the first half of the year, after Washington, D.C. ($300 per square foot) and Chicago ($168 per square foot).<\/p>\n

Across the 18 office transactions that were listed by CommercialEdge in the second quarter of the year, the $286.5 million sale of 1221 Brickell was by far the largest. One of the biggest office trades of the past year, Rockpoint Group<\/strong> sold off its 408,600-square-foot Class A asset to The Citadel Organization<\/strong>, at a price that reached $701.2 per square foot. The 27-story building last changed hands in 2017, for $155 million. Built in 1986, the high-rise is LEED Gold certified.<\/p>\n

Another significant deal that closed in the second quarter of 2022 was the off-market trade of Crossroads III, a 95,777-square-foot medical office building in Plantation, Fla. A joint venture of Anchor Health Properties<\/strong> and Harrison Street <\/strong>picked up the asset<\/a> from Starwood Capital Group, <\/strong>for $45.5 million.<\/p>\n

CommercialEdge<\/a> covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report<\/span> here<\/a>.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the decline, prices jumped significantly year-over-year.<\/p>\n","protected":false},"author":739,"featured_media":1004545005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1492,21742,21747],"tags":[51047,50674],"class_list":["post-1004598073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-miami","category-latest","category-office","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nMiami Office Transaction Volume Was Low in H1<\/title>\n<meta name=\"description\" content=\"While Miami's office transaction volume was low in the first half of 2022, prices rose by 20 percent year-over-year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami Office Transaction Volume Was Low in H1\" \/>\n<meta property=\"og:description\" content=\"While Miami's office transaction volume was low in the first half of 2022, prices rose by 20 percent year-over-year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-05T12:46:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:37:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"930\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/\",\"name\":\"Miami Office Transaction Volume Was Low in H1\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg\",\"datePublished\":\"2022-09-05T12:46:32+00:00\",\"dateModified\":\"2022-12-09T05:37:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\"},\"description\":\"While Miami's office transaction volume was low in the first half of 2022, prices rose by 20 percent year-over-year.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg\",\"width\":1200,\"height\":930},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Miami Office Transaction Volume Was Low in H1\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\",\"name\":\"Beata Lorincz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"caption\":\"Beata Lorincz\"},\"description\":\"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Miami Office Transaction Volume Was Low in H1","description":"While Miami's office transaction volume was low in the first half of 2022, prices rose by 20 percent year-over-year.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/","og_locale":"en_US","og_type":"article","og_title":"Miami Office Transaction Volume Was Low in H1","og_description":"While Miami's office transaction volume was low in the first half of 2022, prices rose by 20 percent year-over-year.","og_url":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-09-05T12:46:32+00:00","article_modified_time":"2022-12-09T05:37:32+00:00","og_image":[{"width":1200,"height":930,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","type":"image\/jpeg"}],"author":"Beata Lorincz","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/","url":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/","name":"Miami Office Transaction Volume Was Low in H1","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","datePublished":"2022-09-05T12:46:32+00:00","dateModified":"2022-12-09T05:37:32+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004"},"description":"While Miami's office transaction volume was low in the first half of 2022, prices rose by 20 percent year-over-year.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","width":1200,"height":930},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/miami-office-transaction-volume-was-low-in-h1\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Miami Office Transaction Volume Was Low in H1"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004","name":"Beata Lorincz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","caption":"Beata Lorincz"},"description":"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004598073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/739"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004598073"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004598073\/revisions"}],"predecessor-version":[{"id":1004611729,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004598073\/revisions\/1004611729"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004545005"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004598073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004598073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004598073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}