On a per-foot basis, industrial prices in South Florida rose 14.8 percent in the third quarter of this year to roughly $160 per square foot, compared to $140 per square foot during the same period in 2018. Over the past year, 249 properties sold totaling 21.6 million square feet.
In the third quarter, BentallGreenOak and Bridge Development Partners recorded the largest industrial sale in Miami-Dade County by acquiring a mixed-use business park next to the Opa-Locka Executive Airport for $126 million.
In South Florida, institutional investors made up 31.9 percent of the buyers and 17.7 percent of the sellers in 2019, while foreign investors accounted for 22.9 percent of the buyers and 22.4 percent of the sellers.
Source: The Real Deal