MIAMI—After nearly 2 million square feet of new officespace was delivered in 2010, new inventory has sincewaned. Year-to-date deliveries of new office space has been lessthan 250,000 square feet—the lowest since 2007—and only 164,000square feet is still under construction and set to deliver.

So says Jones Lang LaSalle’s third quarteroffice market report. Of course, a lack of new construction is goodnews for a market facing a total vacancy rate of 19.1%, with nearly7 million square feet of vacant space.

“Of all the new buildings delivered in 2010, 1450Brickell is leading the charge,” JonathanKingsley, a senior vice president at JLL, tellsGlobeSt.com. “If Brickell Financial Center follows that samepattern of a two- to three-year cycle, then now’s clearly the timeto start planning for future office space to bedelivered two to four years from now.”