Florida’s industrial real estate sector is performing well, Florida Trends reported, as the statewide vacancy rate is just 10 percent. Shane Soefker, a managing director at Cushman & Wakefield of Florida, said the sector was healthy because it hasn’t suffered from the over-development that’s plagued the residential side and because industrial structures can be built quickly to respond more quickly to tenant demand. “Industrial is traditionally one of first product types to lead from recovery,” he said.
South Florida has powered the industrial growth, as 14 properties selling for $140 million in the area comprise 75 percent of the activity in the state. According to reports, Aldi supermarket is seeking a Royal Palm Beach warehouse that could further boost industrial real estate development. [Florida Trends]