Price per sf for industrial-warehouse space in Miami averaged $57.91, up 13.9% over the same reporting period in 1999, according to the report produced in partnership with CB Richard Ellis/Global Capital Markets Group.
In comparison, the market survey shows Atlanta ranked second in the industrial-warehouse market over the same 12-month period with a price per sf of $39.99, up from 13.3% from the same period in 1999.
The survey's researchers found prices and rents overall throughout the United States changed only a little during the fourth quarter ended Dec. 31 in six major property categories. Results of the survey are available at www.realestateindex.com.
Besides Miami's performance, the West Palm Beach MSA also showed solid growth during the fourth quarter.
The West Palm Beach market, 67 miles north of Miami, ranked first in price per sf for retail space at $123.13, up from 2.9% for the same period in 1999; and first in rent per sf for retail space at $17.35, up from 3.6% during the same period in 1999.
The market also ranked second in the nation in the price of suburban office space--$166.60 per sf, up 4.1% from the same period in 1999.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
