Miami

But new supply will provide a challenge for landlords.

A recent JLL report found 30% of all office space will be consumed flexibly by 2030, as a result of flexible lease terms and uncertainty caused by the pandemic.

Savills has hired Michael Fisher and Robert Teachey to oversee business development, transaction management and tenant representation.

"The office market has been undersupplied in South Florida for at least 10 years," said one South Florida real estate investor.

The company has purchased a 7,142-square-foot corner property, located on the premier retail high street, Lincoln Rd.

A flat vacancy rate and increasing rents in the first quarter indicate a bubbling retail recovery.

The development will include a 15,000-square-foot penthouse where an executive can live and work under the same roof.

The sectors in Austin Seattle, Phoenix and Miami may be running at different temperatures, but the fundamentals suggest they're not overheating.