What’s Driving South Florida’s Industrial Boom?
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South Florida’s commercial real estate market continues. While warehouse and distribution space for e-commerce retailers has been the driving force behind the industrial boom, the region’s trade.
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Because of the technology boom, the demand for housing in the Northwest has skyrocketed. According to the National Association of Industrial & Office Properties (NAIOP), nearly 50 people are moving to the Seattle area daily. Construction companies report the lack of available labor as a continual problem.
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South Florida’s strategic location as the gateway to Latin America, the Port of Miami’s increasing influence in international trade and a fast growing e-commerce marketplace are driving growth for the industrial real estate sector. Industry experts that participated in the bi-annual Real Estate Speaker Series presented May 15, 2018 by FIU’s Hollo School of Real.
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South Florida’s industrial market has experienced a booming 2017, with occupancy levels and rental prices returning to pre-recession rates as warehouse and distribution space is in high demand.. With an influx of capital from pension funds, speculative industrial development is on the rise in Miami-Dade, Broward and Palm Beach counties.
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