A Thriving Industrial Market in Miami-Dade County Moderates Heading Into 2019
In the first quarter of 2019, vacancy rates slightly increased and rental rates decreased as Miami-Dade’s industrial market moderates after a flourishing year in 2018. The vacancy rate increased by 10 basis points in the first quarter and currently stands at 4 percent. A positive 478,228 square feet of industrial and flex space was absorbed this quarter with 2.7 million square feet in leasing activity. The demand for large block space is displayed with major leases signed within the first quarter of 2019 including the renewals of CEVA Logistics, Roca Tile USA, and Senator International Freight Forwarding.