MIAMI—Fourteen consecutive quarters of declining vacancies in the warehouse sector highlight the U.S. industrial real estate market's momentum through the third quarter of 2013. So says Cushman & Wakefield's latest market report, which also reveals that two Florida cities are among the top 10 markets with the lowest industrial vacancy rates.

“Pent-up consumer demand for housing, automobiles, appliances and other less durable goods have translated to increased spending in 2013,” says John Morris, leader of Industrial Services for the Americas. “As corporations respond, we have seen a jump in demand, especially for distribution space.

“With the continued ecommerce boom, online retailers have become the fastest-growing segment of warehouse occupiers. At the same time, traditional brick-and-mortar retailers continue to drive demand as well, with companies like Walmart and Home Depot among the most active.”