The Real Deal Miami

Miami-Dade industrial vacancy rises slightly

October 26, 2012 10:30AM

Following two strong quarters to open the year, the vacancy rate in Miami-Dade County’s industrial market saw a slight increase in the third quarter, rising to 7.2 percent, according to a report from Miami-based ComReal. The vacancy hike came in part due to the construction of new warehouses that are now being delivered, the firm said, along with businesses putting moves on hold to await the outcome of the U.S. presidential election. Industrial gross lease rates remained the same, at $7.42 per square foot. The two biggest transactions were Perez Trading’s new space of 280,000 square feet and Ameriworld’s 124,000-square-foot lease. — Alexander Britell