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.
Miami’s industrial market, which includes all of Miami-Dade County, is the nation’s top performer for annual rent growth, according to a JLL report. Year-over-year, the Miami industrial market experienced a 53 percent jump in rent, more than Los Angeles, which had the second highest rent hike at 45 percent, and New York/New Jersey, which had
Miami’s already-robust industrial market experienced its best year ever in 2021, according to a report released this week by real estate brokerage JLL. Vacancy rates fell to new lows, rental rates reached new highs and absorption crushed the old record, JLL said. Miami-Dade’s industrial boom comes with downsides, too, as users struggle to cope with rising
The deal is another indication that Miami’s industrial real estate market is one of the healthiest and most dynamic in the U.S. with property valuations and rental rates at a ten-year high. CLICK ON THE HEADLINE FOR MORE