South Florida’s industrial market softened this year, largely due to speculative construction that added vacant space to the market. Although leasing was steady, activity didn’t catch up to the significant deliveries of warehouses, distribution and manufacturing facilities. The tri-county region’s vacancy rate jumped this year, despite hefty leasing. In Miami-Dade County, where 1.2 million square feet was completed in the third quarter, the vacancy reached 6.5 percent that quarter, up from 4.9 percent during the same period last year, according to Colliers. Broward County’s vacancy rate was 6.4 percent in the third quarter, up from 4.7 percent during the same […]
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