CURRENT MIAMI WAREHOUSE MARKET STATUS: 2Q 2019
Avg. Lease Rate: $11.82 per sq. ft.
Absorption: 435,000 sq. ft.
Construction: 4,393,000 sq. ft.
The Miami industrial real estate market is moving through the 2nd Quarter of 2019 with speed. Vacancy has slightly crept up, but remains relatively flat. The average warehouse lease rate is increasing this quarter, and we will see higher absorption at the end of the second quarter, when compared to the first quarter of 2019. Because of continued demand for industrial space and our limited availability for construction, what land is available is going for a premium and developers are still putting shovels in the ground.
updated: May 2019