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EXECUTED LEASES
3Q 2017
% Of Total By Employment Industry
77%
12%
11%
AVENTURA Executed Leases, 3Q 2017
% of Total by Employment INdustry
Healthcare
Real Estate
Law Firm
77%
12%
11%
AVENTURA DEMAND
HIGHLIGHTS
General demand drivers include occupiers in the finance, legal and the healthcare
industries. Given this market’s high net worth incomes, upscale waterfront residential
development and the strong presence of medical facilities, doctor’s offices and hospitals,
these were among the largest occupiers of space.
Along with Coconut Grove, Aventura had the lowest vacancy in Miami. With an inventory
under 1.0 million SF and a respective 4.8% and 6.0% vacancy, little activity both on the
leasing and new occupancy front has been posted. Net absorption in Aventura since
2016 has remained in the negative territory – for both classes of space. Year-to-date
leasing transactions totaled just under 50,000 SF.
Class A leasing at third quarter included a 7,200 SF transaction for DiGeronimo Medical’s
renewal at One Turnberry Place.
On the Class B front, Aventura View executed two small leases totaling 2,100 SF. The
tenants were in the legal and construction sectors.