The Verdict: Scarce Office Space in the Tricounty Region
Collier’s report details low vacancies
Collier’s reports that office space in the tricounty region is getting harder and harder to come by. Palm Beach, which is experiencing the lowest office market vacancy rate since Q3 2017, saw a 9.7% vacancy rate in Q4 2021. Miami-Dade logged an 11% vacancy rate during the same quarter, while Broward (12.5% vacancy rate) had its office market vacancy rate decline for the third consecutive quarter.