CBRE: Industrial construction boom underway in Miami
The 1Q15 Marketview of CBRE Inc. highlighted how construction of Class A warehouse space in Miami is booming in response to rising demand. Across the entire metropolitan area, the vacancy rate is 4.2%, which is one of the lowest in the United States. Total supply is 207.2mn square feet. Net absorption in 1Q15 was just under 850,000 square feet. Some 1.5mn square feet is under construction. Average rents are USD8.18 per square foot.
Source : 31 March 2015/CBRE/Miami/IND