Almost half the way through the year and there is positive news coming out of the Miami – Dade area in commercial property activity. This is a nice diversion away from all that real estate doom and gloom that has stalked the State over the last few years. Sales and leasing and projected new projects are showing growth both from International investment and domestic plans means that Miami has possibilities for a comeback in commercial real estate.

Leasing Gains:

Leasing has attracted some well known names such as Betty Dain Creations is leasing 130,000 square-foot headquarters in Medley’s Flagler Station and Gamma USA leasing 150,000 square feet in East Hialeah.

Commercial Office leasing has not been as positive but activity is gaining momentum and there are signs that in that over built area it too will eventually pick up for example the new1450 Brickell is 65% leased, with 27 tenants committing to the 35-story building since it opened last year, including several new to the market. The 32-story Brickell Bay Office Tower has signed seven new leases and renewals for a combined 37,000 square feet so far this year, This public information is leading us to our positive conclusions here.

Retail Growth:

Retail business is also gaining momentum in the South beach area and downtown Miami and progressive retailer H&M has announced plans to open its first Miami-Dade store.

Other positive commercial projects are soon to arrive in the form of the planned Met Square and Met 3 are set to bring a Whole Foods Market and movie theater also 2,000-space garage to downtown. In Brickell, Then the new unveiled 4.6 million-square-foot CitiCentre is to house a major shopping center, hotel, two residential towers and an office building, giving a further boost to the positive future growth within commercial life in South East Florida.