New inventory in Miami is expected to further drive demand in Floridas already-booming industrial sector - United States
New inventory in Miami is expected to further drive demand in Florida’s already-booming industrial sector
Florida's industrial market has attracted significant interest from tenants due to its strategic location, large consumer base, and access to major transportation networks, including ports, railroads and highways.
Miami's net absorption reached a positive 6.3 million square feet (msf) from Q3 2022 to Q2 2023, marking a 25% decrease compared to the previous 12-month period. Nevertheless, Miami has a promising 6.6 msf of inventory under construction, which is anticipated to drive heightened demand throughout the rest of 2023.