- Miami’s office market is powering ahead with major submarkets rapidly absorbing space and pushing vacancy down. Four years of new, high-end product have supercharged flight-to-quality and kept rent growth firmly in positive territory.
- The Airport/Doral, Coral Gables and Miami Beach submarkets are quietly doing the heavy lifting, accounting for 37.5% of Miami’s office inventory and posting meaningful vacancy drops from Q4 2022 to Q4 2025. Airport/Doral led with a 4.0% decline (423k sf absorbed), followed by Coral Gables’ 3.3% drop (242k sf) and Miami Beach’s 3.6% decrease (100k sf).
- Downtown and Brickell tell a different story with vacancy ticking up due to new supply hitting the market, yet rents still increased, signaling demand hasn’t cooled. With top-tier space leasing steadily, vacancies are expected to level off as the new wave of product gets absorbed.
Miami submarkets power office surge with sharp vacancy drops in Coral Gables, Miami Beach, and Airport/Doral
Miami quarterly vacancy & 4-year change by submarket
Get market intel
US-FL-MIA Miami