It's not a surprise that Miami is a hotbed for development. The coastal city is strategically located in an area close to many international business markets. Current Class A office vacancy is low, which causes investors to have to look to Class B options or new construction. Many industry professionals are doing both.
"Spec construction is finally coming back," Ralph Kittrell, a principal and investment officer at Exeter Property Group, told GlobeSt.com. "I think you have to look at a lot of opportunities and not stay too focused on one thing. We are probably going to put about 15 percent of our fund in office and 20 percent to 25 percent in spec or new construction."
Class B and C
Class B and C space is available in Miami's submarkets. These areas like the Design District, Midtown and Medley still have low enough rents where you can lease a unit before the neighborhood's value catches up with it.
These units don't have the same amenities as Class A offices because they are housed in older buildings. B-units are often of good quality while some of the C-models might need renovation. But with the booming real estate industry in Miami, it's smart to get in these coveted office spaces before the prices skyrocket.
This is a good option for startups and entrepreneurs who have less funds to cover overhead. To reduce expenses even more, furnish your office space wisely.
Used office furniture
Business owners who are looking for low-cost solutions to equip their offices should seek secondhand business furniture. These desks and chairs are often comparable in style and quality to their new counterparts. Additionally, the best dealers buy merchandise in bulk in order to offer matching sets of cubicles and other office workstations.
To stay with the contemporary vibe that Miami exudes, purchase modern desks and chairs. Many of these workstations were designed to flow with open-space layouts. As a result, these units don't have partitions, which can limit collaboration. However, if your employees need privacy, you can opt for traditional cubicles.
Ergonomics chairs are necessary for every office. They have adjustable parts to help the user have a more comfortable and personalized seat. Look for secondhand office chairs as well as new ones during your shopping process.
Want to create a comfortable, collaborative work environment? Visit the Office Furniture Warehouse website to complete your office landscape.