Net absorption during Q1 2019 was 211,841 sq. ft., with 101,917 sq. ft.in the downtown submarkets and 109,924 sq. ft. in the suburban submarkets.
New to market tenants are currently seeking to occupy over 215,000 sq. ft. in the coming months.
Tenants seeking space in the market have requirements for 1.4 million sq. ft. Business services, which includes co-working providers, legal and financial services were the top industries in the market.
New office construction, primarily in Brickell, Wynwood, Coral Gables, Coconut Grove is scheduled to increase inventory by another 490,000 sq. ft. in 2019.