Although certain asset classes may see isolated trouble, the broader industrial market in Miami appears resilient, with no signs of systemic weakness. The occupancy has slipped slightly from about 98% to 95% but points to a more balanced market.
PortMiami officials described the visit as highly successful, noting that the discussions laid a strong foundation for future collaboration and deeper integration of maritime and logistics operations between Miami and Jamaica.
Class B and C industrial vacancy rates in Miami have remained stable, holding below 5%, as tenants increasingly prioritize value over newly built assets.
Over two days in late July, Regalado’s office sued 17 property owners in Miami-Dade Circuit Court after they successfully lowered their 2024 valuations, resulting in reduced property tax bills.