Miami-Dade Industrial Market Vacancy Stable

MIAMI-The overall vacancy rate in Miami-Dade County’s industrial market was the same at the end of the third quarter–9.3%–as that time last year, according to Cushman & Wakefield’s third-quarter industrial overview for the county. But the report states the market is beginning to stabilize. Absorption in the third quarter was a 1.2 million sf, making the year-to-date positive absorption of 301,368 sf.

The county’s biggest submarket, Airport West, had a 0.8 percentage point decrease in its vacancy rate, which went from 13.5% second quarter to 12.7% third quarter. That is stable, compared with the 12.6% recorded in third quarter 2002, the report states.