IRR-Miami Mid-Year Viewpoint 2015 Local Market Report - Industrial
Miami's industrial sector continues to struggle under high land costs, and the beneficiary is Flagler Logistics who controls the largest holdings at a fixed land basis. The recent changes to international imports on fresh produce and other perishable goods has left Miami under-supplied in the cold and refrigerated storage inventory.
Large scale development remains mostly build-to-suit, but some speculative buildings are emerging. The infill markets (East and West Airport) that serve the local distributorships and contract trades have rebounded with the economy and a robust construction market. Doral industrial flex is back, and the pricing (and rents) are starting to favor a new wave of industrial condos. This fractionalization is never good for the market fundamentals. Miami industrial remains relatively strong as of mid-2015. It's always good until it isn't.
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IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.