JLL second quarter report

According to a JLL second quarter report, the Miami market has achieved all-time highs for office asking rents, even as occupancy rates lagged. The total vacancy rate reached 20 percent, with asking rents at $46 a square foot, a 2.6 percent increase from pre-pandemic levels, according to JLL.  Craig – this stat is for City wide rents, and so it’s a bit misleading.  If you look at rents for class A office space on Brickell and Miami Beach, the asking rent price is in the mid $60s, and the top-tier towers like Vlad Doronin’s under construction 830 Brickell and Deco Capital’s 18 Sunset asking above $80 per sq-ft.