miami industrial real estate market reports
It is Midyear 2014 and the Miami industrial real estate market remains strong. Even as new warehouse space is being delivered the vacancy rate decreased to 5.6% and absorption was a positive 1.2M sq. ft. for the 2nd quarter of this year. Landlords continue to push rent growth while prospective tenants are rushed to make…
We start the new year with nearly one million square feet of positive absorption. Lease rates and occupancy levels have both increased. The vacancy rate falls now to 6%. The leasing activity is very strong as evidenced by all of the lease transactions listed below. These are good…
The year 2013 was about concrete evidence. Over 2,300,000 sq. ft. of warehouse space was delivered to the market in comparison to 2012 where only 538,000 sq. ft. was delivered. In addition, there is 1,600,000 sq. ft. now under construction. Although new space was added to our 229M sq. ft. of total inventory, the vacancy…
According to ComReal, the Miami-Dade County Industrial market continues to remain strong at the end of the third quarter of 2013 with the average rental rate increasing to $8.01 per sq. ft. and the average vacancy rate decreasing to 6.1%. Even with the new construction of multiple warehouses, our market is keeping up with nearly…
Midway through 2013, ComReal is pleased to report that the average lease rates increased to $7.86 per sq. ft. and the vacancy rate decreased slightly to 6.4% within the Miami industrial real estate market. According to our sources, there are fewer on-the-market properties available for sale and lease. The “days on market” has also been…
The average lease rate for warehouse space in Miami increased to $7.72 per sq. ft. from $7.54 per sq. ft. Although there were several significant lease transactions during this first quarter, the average vacancy rate remained the same. This was mainly due to the over one-half million square feet of new warehouse space that was…
In ComReal Miami’s year end report for 2011, we wrote about the “return of the landlords” and about the announcements of speculative construction for several, new warehouse projects. In 2012, the theme was absolutely “breaking ground!” as eight new projects commenced. It was very good to see vertical construction in Miami occur once again. ComReal…
Unlike the strong first two quarters of the year, the vacancy rate for this 3rd quarter in Miami-Dade County’s industrial real estate market actually increased slightly to 7.2%. This is partly due to the new construction of warehouses that are now being delivered onto the market. Another factor for the negative absorption this quarter is that some businesses…