Miami industrial vacancy falls to 7.5 percent

The industrial vacancy rate in Miami fell to 7.5 percent in the first quarter, according to a report from ComReal Miami released today. That comes in comparison to the national rate, which stands at 9.3 percent. Another half-million square feet of warehouse space was positively absorbed in the first three months of 2012. According to ComReal, more and more tenants are looking to sign long-term deals, both renewals and new leases. The market’s activity was led by the sale of Flagler Station Business Park in Medley, which which was acquired by AEW Capital Management for $340 million. — Alexander Britell