Comments on: Latitude One Offers Executive Suites in Miami

By: Elizabeth Sanchez

Elizabeth Sanchez — Fri, 30 Oct 2009 14:46:36 +0000

With the reference to OBCAI, it looks like Latitude One has fully investigated the industry and the opportunities, and probably also the competition. The Brickell address really is a premier site for office space in Miami. I don’t know what they are charging, but I bet these executive suites will fill up fast, or at least faster than some other projects in Miami.

By: Marcus Hester

Marcus Hester — Fri, 30 Oct 2009 14:28:03 +0000

The Miami office market continues to see a slowdown as asking rates decline and vacancy rates increase. The national economy is showing signs of declining at a slower pace as unemployment increases this quarter are smaller than previous quarters and talks of economic recovery happening as soon as the end of this year continue to permeate the news. This is all according to an August report from CB Richard Ellis. With this in mind, it seems that Latitude One probably didn’t have much to lose by trying this.

By: Bill Brookshire

Bill Brookshire — Fri, 30 Oct 2009 13:59:12 +0000

This might not have been part of Latitude One’s plan when the office market was high. But it looks to be a permanent part of the building now. This is the opportunity for the serviced office industry. Executive suites are making inroads during this recession that they might not otherwise have made. Good to see some class-A serviced office space in Miami.

By: Maggie Correta

Maggie Correta — Fri, 30 Oct 2009 12:53:00 +0000

Very interesting Q&A. It looks like this developer is taking the initiative to get creative about filling office space at its new Miami location with a variety of options, including executive suites. I guess we’ll have to wait and see how well this serviced office space performs against the other facilities on Brickell. It is telling that this is happening, though.