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MIAMI-Particular submarkets in South Florida’s Miami-Dade, Broward and Palm Beach counties helped stabilize the industrial and office markets there overall as of the end of 2002, according to a report just released by Codina Group Inc. of Coral Gables, FL.

The report, Time & Space, names the following submarkets as helping the stabilization: -Southwest Broward, the biggest office submarket in that county, which outperformed the other submarkets there. -Delray Beach, Jupiter and Royal Palm Beach/Wellington in Palm Beach County, the only submarkets that had positive absorption. -Airport West in Miami-Dade County, where development continues and 574,000 sf of industrial space is under construction.

“Despite the challenging economic climate, substantial growth in the submarkets contributed to a balance in the overall market,” John Geisen, president of Codina Group’s Real Estate Services Group, says in a statement. “We’re cautiously optimistic about the upcoming quarters.”

Other highlights include: development in Broward County, where 1.6 million sf of industrial space is under construction; the new residential and retail projects currently underway in Palm Beach County; the one million sf of industrial space under construction and the 1.8 million sf planned for development in Miami-Dade County.

Codina Group publishes Time & Space annually. The report, compiled by the firm’s in-house research department, gives an overview of the South Florida real estate market.

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