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Cushman & Wakefield of Florida, Inc.
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Harbour Centre
One Turnberry
Turnberry Plaza
Aventura View
Canal Park
Icon Medical Tower
AVENTURA PRICING
HIGHLIGHTS
The area’s Class A rental rate was $48.40 PSF. Along with Miami Beach’s $48.65 PSF,
these were the highest averages among all Suburban markets - a ranking which has
been in place for several years. 2017 quarterly rates stood as the highest historical
averages over the last decade.
While down from 2016’s $42.59 PSF, Class B buildings still maintained average quarterly
quotes above the $40.00 PSF mark during 2017. Third quarter’s quote of $40.55 PSF
was the highest Class B rental rate among all Miami submarkets.
The year opened with Harbour Centre reaching the $50.00 PSF mark for its Class
A space, among the highest quote in Aventura. Following suit, One Turnberry Place
maintained a $50.00 PSF quote over the last two quarters for its two remaining spaces.
For Harbour Centre’s (2nd floor) 18,000 SF sublet, the asking rate was $44.50 PSF.
Aventura View maintained its Class B average rate above the $40.00 PSF mark. Third
quarter asking rates ranged from $44.71-$47.71 PSF.
At the under construction Canal Park building, average third quarter rates ranged from
$40.00 PSF to $60.00+ PSF.
INVESTMENT SALES
DURING 3Q 2017
No buildings traded during the quarter.