MIAMI—For all the focus on Brickell City Centre and the rising occupancy of office space in the urban core, outlier markets like Coral Gables are nevertheless making a buzz. Indeed, multinational tenants love Coral Gables and office properties like BAC Colonnade demonstrate why.
For more insight, GlobeSt.com turned to Danet Linares, vice chairman and Blanca Commercial Real Estate. She offers thoughts on how Coral Gables compares to the Brickell Financial District and what the future holds for the Coral Gables office market in this exclusive interview.
GlobeSt.com: How does Coral Gables compare to the Brickell Financial District?
Linares: Both submarkets have their strengths, and you can't go wrong with either. At the end of the day, it comes down to what a specific user is looking for.
Coral Gables offers many executives shorter commute times and is located minutes from the airport. Some users see value in having a Brickell Avenue address. Both neighborhoods have a good mix of restaurants and a critical mass of companies doing business in the area.
GlobeSt.com: What does the future hold for the Coral Gables office market?
Linares: Overall, the Miami-Dade office market is healthy and Coral Gables is no exception. Our four key submarkets—Downtown, Brickell, Coral Gables and Airport West—can address current demand with existing supply. If present-day absorption trends hold steady, there should be demand for new class A product in Coral Gables over the next 24 months.
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