ComReal Miami has prepared a report on the warehouse market in the Homestead / Florida City market. There are about 200 warehouses in the market totaling about 3,000,000 sq. ft. The vacancy is just under 5%. The average lease rate is $7.72 per square foot on a NNN basis, however we think that rate is skewed high due to some of the retail-like warehouses and smaller spaces that have higher rates PSF.
Some of the largest users included Contender Boats, Gold Coast Beverages and several packing warehouses. The largest opportunity for industrial growth and expansion in the 200-acres Homestead Park of Commerce located adjacent to the Homestead Speedway. For the full report on warehouses in Homestead and Florida City, Florida, please contact Ed Redlich or Chris Spear with ComReal at 786-433-2380.