There’s a shortage of parking spaces for trucks, heavy equipment and RVs in Miami-Dade as development has intensified throughout the county. This has increased the value of auto storage facilities with amenities for vehicle fuel and service.
Even though the industrial sector in many parts of the country is one of the healthier components of the CRE ecosystem, some fear signs of softening. Developers in Miami-Dade, however, appear to have no such concerns.
Although demand for industrial space remains strong, rising interest rates and a looming recession has offered some prospective tenants more room to negotiate. Uncertainty about the overall economy is making credit even more important to landlords, and tenants with strong credit will have increased negotiating power – within reason.