MIAMI-600 Brickell at Brickell World Plaza just added another487,000 square feet of office space to the Downtown Miami market.The flood of space pushes the vacancy rate up toward 25%.

Foram Group, developer of the project,resurrected the incomplete tower after securing a $130 million loanearlier this year. Formerly known as the Brickell Financial Centre,the 600,000-square-foot, 40-story project is competing with assetslike new 1450 Brickell and the older Miami Tower and SoutheastFinancial Center.

Are competing brokers worried with the glut of new space? Notreally.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Exclusives
Leasing
Miami
National
Office