"While we may not be at the bottom of the market, we felt the discounted pricing made it a good opportunity,'' Stephen Owens, Miami-based president of Swire Properties, told the Miami Herald. Experts agree that given the current economic situation, ground will not break on any major projects at the two vacant parcels, which are approved for three million square feet of development, for at least a few years.
To read the full Miami Herald story, click here.
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