CURRENT MIAMI WAREHOUSE MARKET STATUS: 3Q 2017
Avg. Lease Rate: $9.76 per sq. ft.
Absorption: 174,347 sq. ft.
Construction: 578,075 sq. ft.
The Miami industrial market continued to see an increase in lease rates and construction. There was a slight increase in warehouses that were delivered, and we watched the vacancy rate hold steady. Over the last several years, we have seen a constant decrease in the overall vacancy rate, increase in lease & sale prices, while warehouse construction keeps on rolling.
updated: October 2017