Rail station’s impact may alter neighborhood
January 7, 2015

Plans for a 9-acre train station with accompanying residential, retail and office space in downtown Miami might have a ripple effect of sorts on the rest of the neighborhood.

All Aboard Florida, a subsidiary of Coral Gables-based Florida East Coast Industries, plans to run a passenger train between Miami and Orlando with stops in Fort Lauderdale and West Palm Beach.

MiamiCentral, as the future downtown Miami station is called, might prompt a rise in future office, retail and residential property uses near the station site...

In particular, other local real estate professionals said, a high demand for office space near MiamiCentral is expected.

“I’m hearing interest from my client base for Class A office use,” said Tom Capocefalo, corporate managing director for commercial real estate firm Savills Studley’s Miami office. “Whereas now rather than looking at conventional office building along Brickell and the downtown core, we are being asked by clients, ‘Hey, anything out there closer to the station to be built?’And the reason being, it’s perceived to be the center of the new business activity in general.”

Rail station’s impact may alter neighborhood

Related Stories

Law Firm Employment and Space Trends
National Office Sector Report (Q3 2014)