MIAMI—Based on today's office absorption rate,how soon will we witness demand for new office space in DowntownMiami? Although nobody can answer that question with absoluteassurance, Danet Linares, vice chairman ofBlanca Commercial Real Estate, offers some soundprojections.

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Pointing to findings in a report from the Miami DowntownDevelopment Authority, the area will be able to supportnew office space being delivered to the market within the next twoto five years. That, she says, includes development currently underway, according to the office study.

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

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“We are already experiencing robust activity from existing andout of market tenants enthusiastically looking to locate in thisspectacular project that will offer a wide variety of retail andentertainment amenities, high-rise residential housing and masstransit connectivity via rail with a state of the art fast train toFort Lauderdale, West Palm Beach, and Orlando,” she says.“MetroMover and Metrorail also accessible on site. Swire Propertiesis currently building Brickell City Centre which includes Brickell City Centre Green consisting of a12-story office tower of 135,000 SF is now 80 percentpre-leased.”

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