In 2015, we saw the impact technology, transportation and foreign investment can have on South Florida’s commercial real estate market. As we prepare for 2016, the Blanca Commercial Real Estate team gives their predictions for what’s in store.
As the work force becomes younger, employers looking to attract and retain talent have had to shift to their office space requirements. Blanca’s Executive Vice President Juan Ruiz discusses how South Florida is reacting to the trend, the shift of urbanization to the suburbs and what cities will need to implement to keep up with commercial real estate demands.
Blanca Commercial Real Estate’s Q3 research studied the four major office submarkets that continue to drive the greater Miami-Dade County office market: Downtown, Brickell, Coral Gables and Airport West. All told, these four submarkets comprise approximately 27 million square feet of Class A (62 buildings) & Class B (85 buildings) office space.
In late July, Blanca CRE’s Danet Linares joined a delegation of 53 elected officials and business leaders to tour Denver’s transit system, which has more than doubled in size over the past 15 years in response to urban and suburban growth. Denver’s story is similar to Miami’s in that the Mile High City’s transportation grid has failed to keep up with growth over the years.