MARKET TRENDS

• South Florida leasing activity has backed off from recent highs partly due to a slowdown in office-using employment growth, which has eased along with tenant demand
• Flight to quality still prevails as tenants show a strong preference for high-quality office space, with leasing activity that did occur predominantly focused on this part of the market
• Rent growth has slowed across the three South Florida markets, but new urban construction which commands the highest asking rents, keeps overall pricing at record highs

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