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YE 20 Office Investment Report

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South Florida’s Office Market was Flush with Capital but Starved for Product in 2020

Despite the unavoidable challenges faced by the office market in 2020, interest in South Florida’s office market indicates that the worst of the declines in deal activity are in the rearview mirror. At the end of the 2020-year, South Florida transaction volume was down 49% from the prior year with a total of $1.4 billion in deal volume compared to $2.8 billion in 2019.

In the second quarter of 2020, the COVID-19 pandemic largely paused sales activity, as investors and landlords struggled to gauge pricing and understand the changing economic landscape. However, deal activity in the second half of 2020 already showed early signs of a rebound as price discovery and buyer interest strengthened. Investor confidence returned in certain niche office subtypes such as medical office buildings (MOB) and suburban, high quality, smart-tech buildings. These favorable high-yielding, pandemic proof investments also gave landlords the price-confidence to test the market.

2021 Outlook: With several deals closing in the second half of the year, investment activity is expected to rebound at a much faster pace in 2021 as uninvested “dry power” capital starts to peak. This substantial amount of equity waiting for deployment is expected to facilitate a rebound in 2021 with a focus on high-quality investments. Activity in the latter half of 2020, and the deals in motion at the end of the year, were reflective of this sentiment.


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YE 20 Office Investment Report

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Verity Mosquera

Research and Consulting Manager

Fort Lauderdale

As Research and Consulting Manager in the South Florida market, I apply my experience in analytics, leadership and international business to monitor the global economy and make projections that help guide our brokers and clients in strategic decision making. My expertise in both leasing and investment sales ranges across multiple asset types including retail, industrial, office and multifamily.  

Prior to joining Colliers, I worked for The Washington Economics Group, Inc., where I led a team of eight economists as Manager of Client Services to prepare detailed economic impact analyses of a number of high-profile transportation and real estate projects in South Florida, including SkyRise Miami and All Aboard Florida. Other notable South Florida clients that I have worked with include Tate Capital, Odebrecht, Miami-Dade Expressway Authority and the International Speedway Corporation. Prior to moving to the United States in 2011, I graduated from law school and was a data analyst for Equity Insurance in Brentwood, UK.

I am active in the commercial real estate community through multiple organizations and committed to strengthening the participation of young leaders in the real estate sector through my current role as Co-Chair of the Urban Land Institute’s Young Leadership Group.

I also have a strong passion for teaching and mentoring students to help prepare them for careers in commercial real estate. I served as an adjunct professor for Miami Dade College School of Business teaching Principles of Management to undergraduate students pursuing their Bachelor’s degree in Business Administration and have recently served as a guest lecturer at Florida International University’s Tibor and Hollo School of Real Estate teaching market research skills to graduate students in the Masters in Science in International Real Estate (MSIRE) program. 

While earning my MBA at St. Thomas University, I served as president of Future Business Leaders of America - Phi Beta Lambda and spoke numerously on business and women career issues. St. Thomas University awarded me with the Outstanding Graduate Award and the Women in Leadership Award in recognition of these efforts.

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