With an estimated 3 million square feet coming up for lease renewal in the next few months in Miami, the competition among real estate professionals is fierce.
The fact that there are few new large companies moving into the city only ups the ante.
Commercial practitioners are monitoring leases and aggressively wooing tenants. Every landlord tries to get the big dogs. ... You really have to be creative to land the biggest firms,'' says Danet Linares, executive vice president of Blanca Commercial Real Estate.
Large law firms are particularly attractive targets, practitioners say, because the business has escaped the worst of the economic downturn, especially in comparison to banks and other financial firms.
Lawyers who are eager to save money can drive hard bargains - and still find very attractive space, Linares says.