Figure
Miami Industrial Figures - Q2 2023
July 17, 2023 5 Minute Read
Looking for a PDF of this content?
- The Miami industrial market posted a 3.1% vacancy rate for the second quarter of 2023 down from the 3.6% vacancy rate posted in the previous quarter.
- More than 3.5 million sq. ft. of new product was delivered in the first half of 2023. A strong pipeline of over 10 million sq. ft. of development eases some supply pressure with several noteworthy projects breaking ground this quarter such as Bridge Point Doral, Sycamore Logistics Center, Eastgroup Homestead Park of Commerce, and Palmetto Station Logistics.
- Rates for warehouse and distribution facilities remain high at $14.50, an increase of 22% year-over-year.