John Lonardo, CCIM, fully leases completely renovated street-level retail with Mid-Modern Century Art Deco Design retail plaza located on north Ponce de Leon Boulevard, between SW 8th Street and the Coral Gables Central Business District. The plaza consists of 6...
In the midst of the current pandemic, cold storage buildings totaling 157,000 square feet at 12401, 12701, 12725 NW 38 Ave. on 12.5 Acres in Opa-Locka, Florida have sold for $26,000,000. Stephen M. Greene, seller, held the single member LLCs of the parcels. The buyer...
The Miami industrial real estate market’s Q1 2023 vacancy rate fell to 2% at the close of the quarter, compared to 2.1% in Q4 2022. Lease rates stood at an average of $19.18 per sq. ft. (gross), one of the highest in the country. The 12-month rent growth is 17.4% in the industrial market, outpacing the national average of 10.7%. About 14 million SF of product has been delivered over the past three years. There is currently 9.2 million SF of new construction in the works, which equates to 3.5% of inventory currently under construction.
South Florida, including Miami, Broward, and Palm Beach Counties, continues to see strong growth in the industrial real estate market. Rising interest rates and choppy debt markets have had an effect on the market, but it is not causing a big slowdown in leasing. Population growth and record tourism, combined with the lack of supply of product continues to push lease rates higher.
The Miami industrial market’s Q3 2022 vacancy rate continues to fall further to 2.4% and the availability rate is at 4.2% at the close of the quarter with a $17.71 per sq. ft. average (gross) lease rate. Year-over-year rent growth is up again to 19.8%, outpacing the national average, and metro’s five-year annual average of 9.7%. About 4.6 million SF has delivered over the past 12 months, with the metro posting 5.7 million SF of positive net absorption over the same time period.
The ComReal Industrial Team, led by Edison Vasquez & Chris Spear, assisted in the sale transaction of an industrial site located in the City of Doral, Miami-Dade County. The property is located at 9200 NW 58th ST Doral, FL 33178. It has a +/-45,000 SF building and...
The ComReal Industrial Team, led by Patrick McBride, Esq., is pleased to announce the successful sale of an 8-acre industrial site located at 6001 NW 74th Avenue in Miami near Miami International Airport. ComReal represented the seller, Davant Development Corp., in...
ComReal is once again at the top of the list, placing #17 on South Florida Business Journal's Top Brokerage Companies latest published list! Contact one of our experienced agents to find your next Commercial Space: email@example.com
Office Market Overview: Office property owners are capitalizing on strengthening fundamentals and raising rents at above average clip. Miami’s annual rent growth is 6.6%. In the office sector, vacancy is at 10% with 110,378,057 SF available at Q2 2022. The average...
Industrial Market Overview: The Miami industrial real estate market continued it’s strong growth. For Q2 2022, vacancy rate is down even further to 2.5% and the availability rate is at 4.4% at the close of the quarter with a $17.06 per sq. ft. average (gross) lease...
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