MIAMI-Flat. That’s the keyword in nearly every commercial marketin Dade County. So says the Colliers International South Q3 2010Commercial Real Estate Overview. But flat is good news compared tothe consistent declines of the past few quarters.

New office product in Dade County is hitting a plateau, but it’sa long way off from market norms. Then again, some say the currentmarket represents the new norm, with vacancy rates just above 15%and average asking lease rates trending between $30 and $31 persquare foot for the last 18 months.

“The market is gradually looking better,” Alex Morcate, a seniorfinancial analyst at Colliers International South Florida, tellsGlobeSt.com. “That’s difficult to swallow because it doesn’t feelbetter. But there is more transaction volume in 2010 compared to2008 and 2009. More sales and leases are getting done.”