Search
 

Dade Industrial Deal Velocity Continues

MIAMI-International trade and a lack of new buildings benefit local leasing.

By Carl Cronan | Updated on May 27, 2009

MIAMI-The industrial market in Miami-Dade County is benefiting from two key factors lately: ongoing trade with Latin America and a lack of new inventory being built. So says local brokerages that have been able to keep some deal velocity while other markets in Florida grind to a virtual halt.

A research report by Colliers Abood Wood-Fay notes that South American economies have remained relatively insulated during the current global recession, which helps Miami-Dade’s longtime status as an international gateway. This has buoyed the local industrial market over the past few quarters, though challenges could come through the remainder of this year.

“The market may receive a much-needed reprieve and allow current inventory to work its way through the market,” Colliers’ report adds. Only 86,000 square feet of new construction activity is under way this year, compared to an annual average of at least 1.6 million square feet in each of the past three years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.