The first quarter findings show the South Florida industrial market remains on a stable trajectory, as demand continues to outpace supply. Companies keep wanting to take industrial space. Population growth and other factors all seem to be pointing in a positive direction.
Industrial vacancies are low and rents at such cold storage facilities are at record highs. And what type of cold storage occupiers need today may result in changes for builders of the facilities, the occupiers, corporate bottom lines, Five key changes may take place in this niche that industry participants should be aware of:.
The proposal by SJC Ventures calls for an 86,101-square-foot retail center in six buildings, the largest a 40,080-square-foot grocery store. Being one of the more wealthy areas of Miami-Dade, Doral has the strong demographics that retailers favor.
The electric vehicle industry is set to fuel demand for industrial real estate for years to come, predicts CRE research firm YardiMatrix. And major automakers have announced plans to produce EVs or batteries since the US Inflation Reduction Act brought in the subsidies, which require that the vehicles be made mostly in the US.
The continued demand for industrial space is keeping market fundamentals healthy across the U.S. The national average rent for in-place leases stood at $7.12 per square foot in February, growing 6.9% over year-ago figures.