2017 ends with about 1.9M sq. ft. of positive absorption. Over 3.6M sq. ft. of new warehouse space was delivered bringing our total inventory to 240M sq. ft. This being said, the overall vacancy rate slightly decreased to 4.0% and the average lease rate is at an all-time high at $9.76 per sq. ft. gross.…
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…
Nearly 300 commercial real estate professionals attended the CCIM Miami Outlook Conference for 2013. Edward Redlich, CCIM delivered the report on Miami’s industrial real estate market. Redlich is a 17 years veteran in the industry. He has traveled the USA as well as Asia and Panama to learn more about how the global manufacturing and…
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…
The sales and leasing activity remained steady for Miami’s industrial real estate market in the 3rd quarter of this year. Vacancy rates decreased slightly to 8.4% during this period while the average lease rates increased slightly to $7.15 per square foot. In comparison, the national averages are 9.6% and $5.13 psf respectively. The past and…
The deep dredge of the Port of Miami channel now has the support of the State of Florida thanks to Governor Rick Scott. The State of Florida must now approve the $77,000,000 of additional funding. Perhaps a small price to pay when you consider that Miami’s import-export trade industry was over $3 trillion in 2010.…
The Miami industrial real estate market becomes more vibrant while the sales and leasing of other types of real estate properties remain weak. Nearly 1M square feet of Miami warehouse space was absorbed in the 3rd quarter of 2010 decreasing the vacancy for the third consecutive quarter in a row to 9.3%. The average lease…
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