Considered one of the most sought-after areas in Miami-Dade County, Doral’s commercial and industrial real estate remains strong due to its proximity to Miami International Airport, The whole city is enjoying about 95% commercial real estate occupancy for the second quarter of the year, with some space asking rates at $55 to $65 per square foot.
According to a new report by Airports Council International, MIA was among the busiest in the world for both cargo and passenger traffic last year, The airport ranks 8th in the world and 4th in U.S. for cargo traffic.
A new method developed by NAIOP of ranking industrial markets in both sales volume and volatility claims to offer new insight into risks that may help investors and developers create better strategies around market entry and exit.
Despite headwinds, this soaring niche continues to attract an increasing number of investors. Industry experts expect substantial growth to continue, driven by increasing demand and need for temperature-controlled storage and transportation of food, pharmaceuticals and chemicals.
While outdoor storage has not been immune to headwinds facing commercial real estate of late, the IOS sector still boasts one of the lowest vacancy rates of any property type due to strong supply/demand fundamentals.