MIAMI—Four transactions. Forty thousand square feet (42,600, tobe exact). Four million dollars. Less than one month. That's thestory coming out of Avison Young's South Floridaoffices.

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David Duckworth, vice president of investmentsales at Avison ran up and down the Tri-County area to inkmultimillion-dollar leases. He says the deals represent an uptickin “flight to quality” for small to mid-size tenants.

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First, Duckworth represented CHS in a 20,000-square-foot leaserenewal in Miami Lakes, FL. Next, he represented MAC HealthcareGroup in a new lease for 5,500 square feet at Flamingo Park ofCommerce at 12002 Miramar Parkway in Miramar, FL.

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Duckworth also worked with Privid Eye Systems on a new lease for6,600 square feet at Meridian Business Campus in Weston, FL.Finally he repp'ed Boca Gallery Properties, ownership of GalleryCenter, in a new lease transaction for 10,500 square feet toConsumer Education Group in Boca Raton, FL.

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“With vacancy decreasing across the board in South Florida,tenants are looking to lock in space today, before rates pushhigher,” says Duckworth. “The spur of activity we are seeing in theoffice and industrial submarketsis representative of the larger trend of positive movement in theoverall market.”

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According to Avison's research, small to mid-size tenants remainhesitant about the market but are nevertheless making moves asdemand for space continues to increase, vacancy decreases, and newconstruction is minimal. That's pushing rental rates higher, asnoted by 6.6% year-over-year increase for Broward Countyindustrial, a slight increase in class B office inPalm Beach County and landlord concessions decreasing.

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