South Florida’s industrial real estate market’s second quarter proved to be its strongest period in three years, according to a recently released report from Newmark Knight Frank.
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.
Foundry Commercial, the multi-market commercial real estate firm with offices across the Southeast and Texas, recently closed on the purchase of the Midpoint Miami Logistics Park, an 18-acre site in Hialeah Gardens approximately 10 miles north of the Miami International Airport.