Prices Per Square Foot Rising as South Florida’s CRE Sectors See Drop in Transactions

The number of commercial real estate transactions across Miami-Dade, Broward and Palm Beach counties has dropped significantly in 2022 compared to 2021, according to data provided by JLL Research and CoStar Group.

And yet, the average price per building square foot increased slightly in the retail and office sectors. The rate rose from $409 to $459 in retail sales between 5,000 and 30,000 square feet, and from $210 to $227 in office sales with space over 30,000 square feet.