Foreign Tenants Continue to Drive Miami’s Office Market

Over the past year Miami’s office market experienced improvements at the hand of South American investors and it seems as though iis recent improvements are still being driven by foreign tenants. The Real Deal Miami recently reported that firms from South America and Europe are taking on more commercial leases which are helping to strengthen Miami’s market.

What first began as Latin Americans tapping into the troubled residential market eventually led to small office space investments, which are now being expanded into office leases that include 2,000-5,000 square feet. According to recent reports “the office sector’s progress hasn’t yet been reflected in rents and the vacancy rate has been dropping across the board, with Miami-Dade’s overall office vacancy down near 16 percent.” While a great deal of firms have come from Europe and South America other global companies are recognizing Miami’s international appeal and are also looking to expand to markets that Miami can run regionally.

Source: The Real Deal

 

 

Did the Recession Help the Work-Life Balance?

work life balanceEveryone is well aware of the recession’s negative impact on the economy and our country’s overall morale, but have you ever considered the idea that it may have helped in some ways? We recently came across an interesting article from FOXBusiness that proposed that there is a bright side to the recession, and that would be striking a balance between work and life.

According to the article,

…many employers have allowed workers greater flexibility regarding when and where they work in the last seven years. More specifically, research found that in 2012, more employers allowed workers to work from home occasionally and use flex time to take care of family and personal issues without loss of pay. Workers also were given more control over paid and unpaid overtime hours in 2012 than in 2005.

But while there have been gains, there have also been losses such as “workers returning to work less gradually after childbirth, as well as being less likely to take career breaks due to personal or family reasons.”

What are you thoughts; do you think that the recession has helped the work-life balance? Let us know in the comments section below.

Source: FOXBusiness

Image: GeekWire

 

 

CRE Rent Growth Expected to Resume

Reports on the first quarter are out and signs are showing that rent growth will resume within the next three years for the commercial real estate industry. According to CoStar Group’s First-Quarter 2012 Office Review & Outlook this will be a result of the continuation of positive absorption, which got a boost from smaller businesses entering new leases, paired with the decreasing amount of office space available.

CoStar economists also reported rent growth and office demand in the future will also be attributed to the economy turning temporary jobs into permanent, full-time positions at a quick rate, and employees working more hours on average. If you are looking to move your business into office space in South Florida contact Morris Southeast Group for all your commercial restate needs.

Source: CoStar Group