Golf Outing Tickets

The Real Deal Miami

Miami industrial vacancy rate continues decline

July 25, 2012 01:30PM

The industrial vacancy rate in Miami-Dade County has reached 7.1 percent following another strong quarter, according to a report from Miami-based ComReal. That number represented a drop from a 7.5 percent mark in the first quarter of 2012. Lease rates have also increased in the county to $7.42 per square foot. The sector’s deals were led in the second quarter by Prudential Real Estate’s acquisition of three warehouses in International Corporate Park in Doral, a transaction totaling 340,000 square feet. Indicators point to a “strong, vibrant market” for the remainder of 2012, ComReal said in the report. — Alexander Britell