Average shopping center rents in Miami-Dade county went up 9.5% since early 2013, showing the largest increase in recent years along with a noticeable pick-up in big-box leasing and new development. New shopping centers are speckling the suburban landscape, a surge of new retail construction is sweeping through downtown Miami, and two long-proposed mixed-use projects in Doral have be revived, foretelling new retail destinations in that area.
Terranova’s very own TRENDS Magazine.
Average asking rent in Broward county’s shopping centers increased 6.3% between 2013 and 2014, the third year in a row the county shows an increase in average rent, and the highest jump since the upward slope began in 2012.
Average asking rent in Palm Beach County shopping centers increased in 2013, for a second year in a row, continuing the slow but steady recovery that began in 2011. Occupancy also increased, but only slightly, as some of the county’s shopping centers still contend with vacant big boxes, contributing to the overall double-digit vacancy rate.