Miami industrial real estate market reports
Q2 2024
Miami's unemployment rate has seen a slight increase during the second quarter, up 20 basis points since March reaching 2.2%. Employment growth has flattened with a 0.9% increase in the construction sector, a 0.5% decrease in the trade, transportation and utilities sector and an increase of 0.6% in manufacturing employment year-over-year.
3.9 msf
New deliveries
Nearly 4 million square feet of new industrial inventory delivered during the second quarter, totaling over 5.3 million in deliveries year-to-date.
+6,180
Job opportunities
The engineering, construction & building materials job market posted 6,180 job opportunities during the first half of 2024.
+314,823 sf
Absorption
Miami’s industrial market had over 314,000 square feet of positive absorption during the second quarter of 2024.
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