Ed Redlich and Edison Vasquez from ComReal participated in the panel,
along with Gian Carlo Alonso, President and CEO of AmeriKooler.
All three are FIU Alumni.

The first topic discussed was why many companies and investors are
attracted to Miami for investment on Industrial Real Estate. All panelist
agreed that Miami International Airport, Port Miami, combined with the
great population growth, have fueled the Industrial Real Estate Market
over the last few years. Another factor is the limited availability of land;
Miami is landlocked by Everglades on the West and Atlantic Ocean on
the East. In the first quarter of 2018, the vacancy rate for warehouse
space in Miami stood at 4.3%, among the lowest in the country and one
of the lowest Miami has seen in 10 years. Read our latest market report
here: 1st Quarter 2018 Miami Industrial Report. >>>

Gian Carlo mentioned how manufacturing is making a comeback across
the country, including South Florida. He mentioned Florida being “Right-to-
Work” state is very appealing to companies. Also, transportation cost
to move product out of Miami can be cheap as most freight comes in
and there is a lot of trucking capacity to go out. One worry Gian Carlo
mentioned as business owner is the rise in rents for people living in
Miami. This hurts employees and could push them to move out; limiting
the supply of labor for manufacturing.

On the future of Industrial Real Estate in Miami, everyone was positive
and sees great potential moving forward. Industries leading the demand
for warehouse space in Miami include Perishables (Flowers and
Produce), Aviation and Logistics, including e-commerce. One additional
drive for the growth in the market is the migration of people and
companies from high tax states, such as New York, Illinois and
California. Ed and Edison have seen this first hand as they worked on a
47,500 SF lease to a company relocating from New York. Read the
story here: Industrial Building Leased to NY Company

Moving to career advice, Edison and Ed told students to find a spot
where one can feel comfortable and grow; not to be afraid of moving
from position to position. Brokerage is one of the best way to start in
this business. Find a team to join; being part of a team is essential to the
success in commercial real estate. A team can give support and
guidance to the new person starting in the business. Another note of
advice was to work on specializing on a sector of commercial real
estate, whether is Industrial, Office, Retail, Multifamily or other. Being an
expert in that field will give the agent an advantage over competitors.

Thank you to FIU’s Hollo School of Real Estate for the opportunity of
participating in the panel. Congratulations on putting up such a great
event! Our team looks forward to being part of future events.

For more information on Industrial Real Estate in Miami contact ComReal’s
Industrial team at 786-433-2380