SHARE:
Miami Is a Renters Market for Retail
Leasing volume countywide declined 30% from the third quarter of 2008 to the same period a year later, leading to higher vacancies and dropping rents.
? | Q3 2009 | Q3 2008 | Change |
Vacancy | 7.9% | 6.1% | 30% |
Asking Rent | $23.96 | $24.78 | -3% |
Effective Rent | $20.77 | $21.99 | -6% |
Source: Marcus & Millichap Retail Research Market Update |