The Real Deal Miami

Miami makes top 10 list of U.S. industrial markets

January 04, 2011 04:39PM

Miami ranked number 10 on a list from Grubb & Ellis ranking the top industrial markets in the United States, with an overall score of 61.3 out of 100, based on property, economic and demographic variables. According to Grubb & Ellis’ real estate forecast, 2011 will bring the start of a slow recovery in the leasing market for all property types in the coming year. Activity in the investment market, which began its recovery earlier than anticipated in 2010, will expand to include properties with slightly more risk, the report says. “All things being considered, 2010 was actually better than most anticipated it would be — we saw positive net absorption and an uptick in investment sales during the second half of the year, positioning us for a continued recovery in 2011,” said Robert Bach, senior vice president and chief economist of Grubb & Ellis. “We have challenges to overcome, and we don’t expect fundamentals to return to their pre-recessionary peaks for several more years, but we’re slowly and cautiously building the foundation necessary to do just that.” TRD