Companies in Miami continue to call employees back to the office
- Miami's return-to-office efforts have remained strong, with a 7.4% increase over the past 12 months, even as overall occupancy rates have declined by 90 basis points during the same period.
- As more companies transition from flexible hybrid work models to requiring employees to be in the office 4-5 days a week, we’ve seen a notable increase in return-to-office foot traffic in Miami. This is expected to drive occupancy rates higher.
- In submarkets like Downtown Miami, Coral Gables, and Airport/Doral, occupancy rates are in the mid-80% range. These areas have also seen a significant rise in return to office foot traffic over the last year, which is likely to boost leasing activity and occupancy levels.
November 1, 2024
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US-FL-MIA Miami