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…
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…
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…
Welcome to 2012. The Miami industrial real estate market continued its steady growth and improvement in 2011. In the past quarter, the vacancy has fallen once again to 7.9% while the lease rates have increased to an average of $7.21 per square foot. The national averages in comparison are now 9.5% and $5.11 per…
ComReal Miami 2008 Year-End Miami Industrial Report: Click To Read >>>