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Average Sale Prices Of Local Industrial Spaces Have Dropped, But Experts Aren’t Worried

Warehouses in South Florida sold for less this year than in 2018, according to a recent study. But the price per square foot in Miami-Dade was up, indicating a healthy market, say experts.

The average sale price for industrial spaces in Miami-Dade, Broward and Palm Beach dipped from $1.9 million in 2018 to $1.6 million in 2019, according to Reonomy. The commercial real estate data company studied nine metro areas from 2014 to 2019 in its “State of the Industrial Real Estate Market: MSAs on the Rise” study published in November.

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Suburbs Are The New South Florida Office Magnet

The South Florida office market is something of a nonconformist.

The real estate industry generally has been focused on urban cores offering a live-work-play lifestyle — think downtown Miami, Fort Lauderdale and West Palm Beach and Miami’s Brickell and Wynwood neighborhoods. But the office market increasingly has been checking out the suburbs.

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