Intelligence

Regional Summaries

Select a state to view available market snapshots

Miami, FL

Apartment
Occupancy in the Miami apartment market has been running high for a long while, an effect in part of restrained development in a market flush with condos, many of which, rental and otherwise, have provided competition for apartments. The vacancy rate for the first quarter of 2017 was 4.8%, down 30 basis points for the period following a 100-basis-points increase through 2016. It added 10 additional points by the end of April. Rent growth, all the same, remains strong for the metro market as a whole. At $1,387 and $1,334 per month, asking and effective averages for the first quarter were up 1.3% and 1.2% for the period following increases of 4.6% and 4.2% all told last year. April saw increases of 0.9% for each rate. VIEW APARTMENT LISTINGS >
Industrial
The first quarter 2017 Miami warehouse/distribution sector vacancy rate remained low at just 7.7%. A quarter earlier, it was 90 basis points lower. The rate shed 40 basis points all told in 2016. By the end of April, the gap had already begun to close. A sum of 319,000 square feet of net absorption that month alongside no new supply deliveries reduced the rate by 50 basis points. High at $6.99 psf and $6.60 psf, average first quarter asking and effective rents for warehouse/distribution space were up 0.4% and 0.5% for the period following increases of 2.2% and 2.3% through all of last year-over-year. April recorded respective gains of 0.1% and 0.2%. VIEW INDUSTRIAL LISTINGS >
Office
The vacancy rate in the Miami general purpose, multi-tenant office market for the first quarter of 2017 was 14.6%, up 60 basis points for the period following a 60-basis-points decline through all of 2016. The end-of-April rate was 14.7%. At $33.54 psf and $26.95 psf, first quarter metro market average asking and effective rents were up 0.1% and down 0.1%, respectively, for the period following increases of 3.1% and 3.2% all told last year. Each rate saw a 0.1% increase during April as the slow rent growth continued. VIEW OFFICE LISTINGS >
Retail
Vacancy in the Miami community-neighborhood shopping center market ended the first quarter of 2017 at 5.9%, up 10 basis points for the period following 2016’s 40-basis-points decline—and a very low rate for this property category. A 10-basis-points loss followed in April. At $27.50 psf and $23.57 psf, first quarter mean asking and effective lease rates were up 0.8% and 0.9% for the period following gains of 2.2% and 2.5% last year. April brought respective gains of 0.4% and 0.3%. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Commercial Real Estate Market Information

Coldwell Banker Commercial has commercial real estate market statistics to help you find out more about your local commercial real estate market. Whether you are looking for commercial real estate market trends or information on a commercial real estate markets size, we have the commercial real estate market reports you need.Get the information you need to make wise commercial real estate decisions by checking out our commercial real estate market reports. If you did not find the commercial real estate market information you were looking for contact us today!

White Papers

 

     

Additional Resources