MIAMI—Based on today's office absorption rate, how soon will we witness demand for new office space in Downtown Miami? Although nobody can answer that question with absolute assurance, Danet Linares, vice chairman of Blanca Commercial Real Estate, offers some sound projections.

Pointing to findings in a report from the Miami Downtown Development Authority, the area will be able to support new office space being delivered to the market within the next two to five years. That, she says, includes development currently under way, according to the office study.

“For instance, the proposed All Aboard Florida's Miami Central project now under construction will include 800,000 square feet of class A office space, with the first two towers 700 Miami Central—93,000-square-foot and 170,000-square-foot buildings—that are scheduled for delivery at the end of 2016,” Linares says. Blanca was recently retained to handle leasing for Miami Central's office space.

“We are already experiencing robust activity from existing and out of market tenants enthusiastically looking to locate in this spectacular project that will offer a wide variety of retail and entertainment amenities, high-rise residential housing and mass transit connectivity via rail with a state of the art fast train to Fort Lauderdale, West Palm Beach, and Orlando,” she says. “MetroMover and Metrorail also accessible on site. Swire Properties is currently building Brickell City Centre which includes Brickell City Centre Green consisting of a 12-story office tower of 135,000 SF is now 80 percent pre-leased.”