From an investor’s perspective, small bay properties have notable advantages. They attract a wide variety of tenants, typically on short leases of three to five years, allowing landlords the flexibility to adjust rents frequently and providing some inflation protection.
Building on the success of Downtown Doral’s shops and restaurants, the community is adding 25,000 square feet of retail offerings along 87th avenue and 929 parking spaces in the garages serving the retail. The wing UHealth is leasing is part of this retail expansion, which is scheduled to break ground in Q1 2025, with an estimated completion in Q1 2026.
Absorption turning negative doesn’t tell the whole story. The underlying Miami-Dade industrial market fundamentals remain strong, with Class A industrial properties seeing peak vacancy rates due to recent completions.
The development will feature five condo towers, each 20 stories tall and will include 1,498 residential units as well as 141,694 square feet of commercial space.
The South—particularly the Southeast—is the fastest-growing manufacturing area. Over the past decade, the South has added more than 100 million square feet of new manufacturing space, and nearly half of all the space under construction in the U.S. is now in the South.