Low Interest Rates, Foreign Investors Drive Office-Condo Demand
Miami Today | By: Shannon Pettypiece
Businesses owning their own office space is a trend that could explode if interest rates remain low and foreign investment high.
Demand is up with interest rates low, the stock market still unstable and business owners looking to invest in real estate they can use.
Mr. Weston is overseeing one of the largest office-condo projects in the country at Red Road and San Remo Avenue in Coral Gables, with 165,000 square feet. The first floor will be leased to a Whole Foods Market. The five floors above it will be office condos.
Many international business owners are accustomed to owning their office space, which is common in Latin America, so the Miami-Dade market for office condos is hot.