Florida Trend | Florida's Business Authority

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