South Florida’s Booming Industrial Real Estate Market
Industrial Real Estate On The Rise
In recent years, South Florida has become a hotbed for industrial real estate development. Thanks to its proximity to major markets and its favorable business climate, the region has attracted a growing number of companies in industries such as logistics, manufacturing, and healthcare.
As a result, industrial real estate values in South Florida have been on the rise. In fact, according to CBRE’s Industrial & Logistics MarketView report, the average asking rent for industrial space in the region increased by 5.6% in 2018 alone.
Most Popular Industrial Real Estate Projects in South Florida
1. Amazon Distribution Center in Doral
2. FedEx Ground Facility in Pembroke Pines
3. UPS Distribution Center in Miami Lakes
4. Duke Energy Data Center in Deerfield Beach
5. Southeast Regional Distribution Center for PepsiCo in Medley
What’s Driving South Florida’s Industrial Real Estate Boom?
There are a number of factors that have contributed to South Florida’s industrial real estate boom. First and foremost, the region’s proximity to major markets such as Latin America, the Caribbean, and North America makes it an ideal location for businesses involved in international trade. Additionally, South Florida has a well-developed infrastructure of highways, seaports, and airports, which further enhances its appeal to logistics and transportation companies.
Favorable Business Climate In South Florida
Another key driver of South Florida’s industrial real estate boom is the region’s favorable business climate. In recent years, the state of Florida has implemented a number of pro-business policies that have made it an increasingly attractive destination for businesses of all types. For example, Florida does not have a state income tax, which makes it an appealing location for companies looking to reduce their tax liability. Additionally, the state offers a number of incentives for businesses that create new jobs, such as job training programs and tax breaks.
With its strategic location and favorable business climate, it’s no wonder that South Florida’s industrial real estate market is booming. Thanks to these factors, the region is well-positioned to continue attracting new businesses and driving economic growth in the years to come.
Original sources:
https://therealdeal.com/miami/2018/10/22/heres-a-look-at-some-of-south-floras-most-popular-industrial-real estate/#new_tab=1
Looking Forward
Looking ahead, the demand for industrial real estate in South Florida is expected to continue to grow. Companies are drawn to the region for its skilled workforce, infrastructure, and quality of life. Additionally, with e-commerce sales continuing to rise, the need for warehouses and distribution centers is expected to increase.
As the demand for industrial real estate in South Florida grows, so too will the values of these properties. So, if you’re thinking about investing in industrial real estate in the region, now is the time to do it.
If you’re looking for information on buying or selling in South Florida’s industrial real estate market, be sure to reach out to Leah Mayersohn for legal advice.
