MIAMI-Overall industrial vacancy rates for Miami-Dade, Broward and Palm Beach counties remain below the national average. So say first quarter statistics from Cushman & Wakefield.
The overall vacancy rate for the U.S. industrial market declined to 10.2% at the end of the first quarter. Vacancy in Miami-Dade declined to 7.5%, down from 8.9% a year ago. The first quarter vacancy rate in Broward was 9.3%, down from 10.2% at this time last year. In Palm Beach, the overall vacancy rate settled at 9.1%, down from 9.4% a year ago.
In Miami-Dade, industrial leasing activity totaled 1.4 million square feet, up 42.2% from the year-ago period. Broward racked up 691,947 square feet at the end of the first quarter, down 23.2% from the year-ago period. And Palm Beach increased 3.2%, totaling 239,368 square feet in the first quarter.
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