Office Vacancies in South Florida Rise as Companies Downsize
April 7, 2010
By: Paul Owers

South Florida office vacancies are rising to their highest levels in years as tenants bargain for less space in a still weak economy. ...

... "It's a difficult environment for [building owners]," said Tom Capocefalo, managing director of the Studley real estate firm in Fort Lauderdale. "We're not going to see any realized increase in occupancy for the next 18 months."

While tenants are postponing moves, some are taking advantage of market conditions to boost their visibility. ...

... In Palm Beach County, Delray Beach's vacancy ballooned to 42.6 percent, while Jupiter/Tequesta was at 32 percent.

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