Miami Commercial Real Estate Market Looks Up As Industrial Sector Is Highly Favored By Bulk Buyers
In fact, the demand for commercial real estate properties within the region has caused a tightening effect on the industrial sector of the market as numerous bulk purchases have been carried out on a selection of large lease spaces which has been highlighted by a transaction pulled off earlier this year by a company that took on a property with a size of 475,000 square feet.
Many of the deals that are being conducted today involve properties targeted at the industrial sector of the market that consist of hundreds of thousands of square feet such as a 302,000 square foot lease made in the city of Hialeah and a 166,000 square foot lease made in the town of Miami Lakes in Miami-Dade County.
Transactions such as these have become a clear indication that people are prepared to place massive investments within the region once again which means that the Miami commercial real estate market is going to have to step its game up even further now that the vacancy is rapidly going down as the demand continues to remain steady.
Moving on to the leasing side of things, the market now has an overall vacancy rate of a little less than 8 percent which means that landlords are definitely found on the good end of the deal. In fact, many believe that gears are moving into what is considered to be a seller’s market, or one that is proving to be in favor of landlords and sellers from across the region.
Now that things are shifting into another phase for the market, people who are merely waiting on the sidelines should take it as a cue for them to act fast on available Miami commercial real estate options because there is no telling how soon things will tilt to the point of difficulty in finding great bargain deals as property values as expected to rise from anywhere between 7 percent to 15 percent in the upcoming months.
There is no doubt that the market for commercial real estate properties in Miami is on its way up and people who are able to opt for options offered within the region will be most rewarded with success and so much more.
Joan Vonnegut
Miami Commercial Real Estate
