These Miami Developers Are Racing to the Finish
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MIAMI–In 2010, Miami condo developers were filing bankruptcy and over one million square feet of newly-delivered office space was mostly empty. Fast-forward to 2015 and the volume of developments underway makes the last construction boom look mild.
Here’s a quick review of what’s in the pipeline: There are 4,800 multifamily units slated to come on line in 2015 after about 3,100 hit the market last year, according to Marcus & Millichap. The firm reports developers will complete 1.4 million square feet of retail space this year, the highest total since 2008 as construction activity accelerates. In 2014, builders finished 700,000 square feet…
