The industrial market is continuing to grow in South Florida, according to Collier's Q2 market report for the region, which means airport and cruise port access will become ever more crucial in the coming years.

There's huge investor demand to buy existing, vacant or income-producing land, according to Colliers' Steve Wasserman, who said there's also a shortage of good-quality buildings to sell to owner-occupants, though that could depend on whether you're a tenant or buyer.

"There's a tremendous amount of new construction going up over the next year or two with investors," Wasserman said. "It seems to be getting absorbed on a reasonable basis. For example, First Industrial just leased 140,000 square feet in Pompano Beach to a company that's in the building supply business, and they also did a 300,000-square-foot deal with a freight company. Other than Amazon, there's still a good amount of activity taking place."

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.

Melea VanOstrand

Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.