City Center Sublease

City Center

Office Space Market Report

Number of Listings (last 90 days)
4
Median Rate ($/sqft/yr)
$61
Median Size (sqft)
2,920
As of: August 17, 2017

City Center Rates

On average, listings lease in the $50's per square foot per year. The City Center region is seeing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 13% decline in rent.

Compared to the rest of the Gold Coast market, the City Center region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.

City Center Listing Supply

In the last 90 days, 4 listings have been listed, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 225% of the available leases in the City Center are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 1,500 sqft. Most properties in this region are around 5 floors. Most buildings in this region were built in 1959 and are Class A.

City Center Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst City Center residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in City Center.
Market Report

Market Data

Real time and historical data on commercial real estate listings in City Center.
Research

Miami Beach Submarkets