South Florida’s Land-Constrained Industrial Market Soaring To Record Prices
- Miami’s average industrial asking rents reached an all-time high, $9 per SF, in Q4, according to CBRE, jumping nearly 50% in five years.
- Smith recently led the team representing NBC Universal/Telemundo Enterprises in securing 550K SF for 20 years for a headquarters, which includes production studio space, that opened this month in western Miami Dade.
- In Broward County, the market is almost as tight as Miami — rents are averaging $8.14 per SF and the vacancy rate is 4.95%, according to CBRE.
- Broward has 14 industrial projects under construction, including 11 being built speculatively, indicating that developers are highly confident in the sector.
https://www.bisnow.com/south-florida/news/industrial/industrial-real-estate-market-miami-87646
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