Industrial Warehouse Vacancies Filling Up in South FloridaSharpe Properties, which manages commercial retail and industrial warehouse properties throughout South Florida, has slowly seen improvement with the vacancy rates in Miami Dade County, specifically the Hialeah industrial area. Although the rental rates on a per square foot basis have dropped dramatically over the past several years, demand for industrial warehouse space has picked up.
The industrial warehouse market typically lags behind the residential home market. For example, when the news started reporting that the residential home market was in a downward spiral, the South Florida industrial market was still strong. However, while the industrial market eventually plummeted, the industrial warehouse market appears to be recovering quicker in time than expected. There are various reasons for why this has happened.