Homestead – Homestead was founded in 1913, and celebrated it’s 100th year anniversary in 2013. The city was founded by many of the railroad workers and farmers. Homestead was devastated by Hurricane Andrew in 1992, and is currently home to the Homestead Air Reserve Base,Homestead-Miami Speedway and home to the yearly Homestead Rodeo.
The Homestead housing market took a very hard hit from 2008-2011. Prices were down over 50% in most of the Homestead area. Lennar and Shoma Homes were two of the larger home builders and land owners in the area.
In respect to the Homestead warehouse market, there was some new development in the area during the 2000′s, but this area did not see the same increase in development as other parts of the Miami-Dade County. Most of the Homestead warehouse space is street level, small bay warehouses occupied with local service providers (printers, car repairs, construction companies, and the like). Homestead has some dock high warehouses but it is limited to the newer construction and it is in small pockets within the city. Homestead warehouses lease from $7.00-$8.00 per sq. ft. Warehouses sales, very few, are between $50-$70 per sq. ft. The prices wide range is due to a lack of sales and leases.