MIAMI—As part of Colliers International South Florida's annual Industrial Owners Forum, more than 50 institutional owners gathered in Miami to have a closed discussion on the state of the industrial market in South Florida, where they own properties. Colliers International's industrial broker Steven Wasserman, who hosted the forum and led the discussion, sat down with GlobeSt.com to highlight the main takeaways from the discussion and the sentiment these influential leaders have about South Florida's industrial market.

The first big question: What type of activity are institutional owners seeing in South Florida's hottest industrial submarkets? (Do you agree that diversity is a key word in the region's industrial market? Sound off here.

“We are seeing multiple buyers bidding on a limited supply of properties that come to market,” Wasserman says. “As a result, cap rates can be 4.75% and lower. “We are seeing reluctant sellers agree to sell their class A industrial assets just because they are unable to refuse the incredible offers they are getting.”