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As vacancy rises in Downtown and rents skyrocket in Brickell, tenants may gravitate North of the Miami River/654/miami-2-5-18-tenants-gravitate-north<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-exterior-high-rise.png?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/654/miami-2-5-18-tenants-gravitate-northAs vacancy rises in Downtown and rents skyrocket in Brickell, tenants may gravitate North of the Miami River​Ever since the redevelopment of Brickell in the 1970s from a low-density enclave of Miami’s elite to a high-density urban neighborhood, Miami’s CBD has been split north-south across the Miami River.
Largest leases are getting larger in land constrained Miami, and having to rely on BTS options as of late/614/miami-1-22-18-large-leases-are-getting-larger<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-office-block-windows-bangkok.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/614/miami-1-22-18-large-leases-are-getting-largerLargest leases are getting larger in land constrained Miami, and having to rely on BTS options as of late​Large leases (100,000 – plus square feet) are a rarity for the market, yet large deals are only getting larger.
Florida is a low-cost technology hub/517/florida-12-4-17-low-cost-tech-hub<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/technology-printed-circuit-board.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/517/florida-12-4-17-low-cost-tech-hubFlorida is a low-cost technology hub​The four major metros of Florida are all top 50 tech markets nation-wide.
Florida airports lead the way for affordability/478/florida-11-13-17-airport-affordability<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/transportation-plane.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/478/florida-11-13-17-airport-affordabilityFlorida airports lead the way for affordability​In a recent report analyzing which airports are the least costly, Fort Lauderdale-Hollywood international ranks first among the 45 busiest domestic airports.
Florida has best business tax climate among large states/455/florida-11-6-17-best-business-tax-climate<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/landscape-buildings.jpg" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/455/florida-11-6-17-best-business-tax-climateFlorida has best business tax climate among large states​Florida ranked fourth in The Tax Foundation’s State Business Tax Climate Index for 2018, and ranks in the top ten for individual income tax (#1), unemployment insurance tax (#2), and property tax (#10).
Compared to pre-recession construction, newer deliveries lag/420/miami-10-23-2017-newer-deliveries-lag<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/induistrial-crane-against-modern-buildings-under-construction-at-dusk-jll.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/420/miami-10-23-2017-newer-deliveries-lagCompared to pre-recession construction, newer deliveries lagFor buildings built since 2000 it has taken landlords an average of 8.6 quarters to achieve 85.0 percent occupancy.