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Miami condo boom helping retail sector: report

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The recent boom of sales in Miami-Dade County’s condominium sector has led to a similar surge in the retail market, according to a third-quarter report from Marcus & Millichap. Miami’s continued condo push has seen retail vacancy plummet — something which is projected to fall to 6.2 percent this year, a 70-basis-point decline. Retail vacancy fell by 90 basis points last year. By comparison, the retail vacancy rate was 9.2 percent in the first quarter



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