(This story, in slightly different form, originally appeared inALM's DailyBusiness Review.)
MIAMI-Landlords of existing local office buildings are going onthe offensive. Faced with a glut of new space and the continuingeffects of the recession, managers and owners of buildings in theDowntown and Brickell financial districts are scrambling tomaintain occupancy levels by fast-tracking building upgrades andoffering more generous rental deals.
More than 1.2 million square feet of space are on the way. TheRilea Group's 576,379-square-foot 1450 Brickell project is to becompleted in the first quarter of 2010, while MDM Development plansan April 2010 completion for the 750,000-square-foot Met 2Financial Center project.
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