Summer seasons are typically slow in Miami, however the Miami industrial real estate market experienced an increase in the average lease rate to $8.77 per sq. ft. and a decrease in vacancy to 4.7%. Over 3M sq. ft. has been absorbed this year with one more quarter to go. At this pace, we might break…
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…