Total vacancy for the Miami industrial market in Q2 2020 rose 20 bps quarter-over-quarter to 3.8%.

 

About 3.0 million sq. ft. of industrial space is under construction, with 7.6 million sq. ft. of planned projects for 2020, 2021 and 2022.

 

Capital markets volume amounted to $117 million in twelve transactions with an average sale price of $150 per sq. ft.

 

The average industrial asking rate fell to 9.81/sq. ft. (IG), with landlords favoring concessions over large rental rate decreases