MIAMI - Strong retention efforts are leading to large renewalsin Miami even as more tenants tour space. Meanwhile, office leasingactivity is weakening across Broward’s key submarkets and PalmBeach’s southern and northern markets are strengthening industryclusters. So says the latest Jones Lang LaSallemarket report.

Retention efforts are paying off for landlords, as some majorrenewals are inked in the Miami office market, including NorwegianCruise Line’s 199,000-square-foot renewal, indicating that keycorporate users are choosing to stay in Miami. While Miami’s totalvacancy rate hovers at about 20%, existing office tenants aretouring the market for space, such as accounting firm Marcum LLP,Morrison, Brown, Argiz & Farra, and HomeServe USA.

“Many tenants are extending for three or five years, whichcertainly is a sign of confidence,” JonathanKingsley, a senior vice president at JLL, tellsGlobeSt.com. “We're seeing shadow space or subleasespace come off the market. So these are all gentle signsonly in submarket to submarket that are good signs of recovery thatwe are heading in the right direction.”