Miami-Dade Industrial Market/Submarket Statistics

Miami-Dade County’s industrial market has continued to improve as evidenced by leasing activity increases and vacancy rates decreases. The First Quarter of 2011 closed with an overall vacancy rate of 7.5 percent compared to the recent high of 8.9 percent recorded in the First Quarter of 2010. Overall net absorption totaled 778,553 s.f. in the first quarter doubling the absorption reported this time last year. According to Cushman & Wakefield, the Miami Gardens/Ives Dairy Submarket had a lower vacancy rate (6.8 percent) than Miami-Dade County and an overall positive absorption of 8,430 s.f..

Currently available lease industrial/warehouse space in Miami Gardens includes 11,504 s.f. ($6.95 psf) in Palmetto Lakes Industrial Park and 21,600 s.f. ($6.50 psf) in Sunshine State Industrial Park.