With new tower online, Brickell office vacancy nears 25%
September 15, 2011
By: Marilyn Bowden

600 Brickell at Brickell World Plaza, the last of the new buildings to come to Brickell, is now on the market, adding 487,000 square feet to the Brickell office inventory and shooting vacancy up to between 23% and 25%.

The Studley 25 Index for July-August puts direct vacancy at 24.7% in the class A and class B competitive buildings the firm tracks in the financial district. Available sublease space in these properties adds up to 263,606 square feet.

"The increased vacancy is due in large part to the addition of 600 Brickell Ave.," said Chris Lovell, Studley's senior managing director. ...

... "As pressure of increased vacancy hangs on the market, several notable potential transactions are causing building owners to keep their pencils well honed," Mr. Lovell said. ...

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