Avison Young principal Greg Martin (second from right, with South Florida colleagues Wayne Schuchts, Jonathan Satter, and Gary Gottlieb) tells us he’s seeing a migration to quality among small companies looking for office space (slower than a race to quality, but still pretty intense). The current South Florida office market environment still provides some concessions to tenants in the way of free rent and TI dollars. Those might not be around later, he says, so small companies are biting while the getting is good.
Greg says smaller companies are also interested in the prestige value in making the move from Class-B to A. “It says they’re confident about their future,” he explains. “And besides, who doesn't want to work in cool, brand-new office space? Like driving a new luxury car, it feels good.” Recently, NAIOP South Florida named Greg 2014 Office Broker of the Year, noting that during Avison Young’s first year in South Florida, he oversaw $80M of leases totaling 670k SF.
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