(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-Despite tri-county rising vacancies and dipping rental rates, the South Florida market is still one of the strongest in the nation, say local brokers. However there is no doubt the residential crisis has spilled into the commercial real estate sector, causing many homebuilding-related companies to downsize or close, leaving a noticeable stain of negative absorption.

South Florida is experiencing an overall slowdown and softening, brokers agree. According to Cushman & Wakefield reports, Florida's statewide average vacancy rate is 6.6%, while the US average is 7.7%. CB Richard Ellis and C&W reports put overall vacancy rates in Miami-Dade, Broward and Palm Beach counties between 5% and 8%.

"Industrial vacancies are up, and we believe they will continue to spiral up during the next several quarters," Michael Silver, first vice president at CBRE in Miami, tells GlobeSt.com. "Given that, there is pressure on the rental rates and landlords are discounting rent and selling at a lower price." Concessions are up throughout the tri-county area, brokers agree--a move made by landlords or sellers to generate more interest.