The Largest Industrial Deal Made On The South Florida Commercial Real Estate Market In 2012
Out of all the South Florida commercial real estate activities seen throughout 2012, it is the lease deal made by the aviation firm known as AeroTurbine that is now known to be the largest industrial deal within the entire region with its 200,214-square foot lease.
Prior to the lease deal made by the aviation firm, the previous largest deal was made on a 111,000-square foot property at Prologis Gratigny Industrial Park located within Miami.
Many believe that such activities indicate that there is further tightening to be seen with regards to the industrial sector of the South Florida commercial real estate market. As far as what rent rates are showing over the last couple of months, it is clear to see that there is definitely an upward trend across the region.
As a matter of fact, even the Broward County area has seen a significant improvement in its own industrial sector which many find to be very impressive since the area often falls behind Miami-Dade County. With companies looking to settle down and become established within areas such as Broward County, it is clear to see that things have yet to flourish in the very near future.
Industrial vacancy rates for the Broward area and the Miami-Dade area have fallen as Miami-Dade’s rate was at 6.2 percent while Broward’s was at 8 percent by the end of the second quarter of 2012.
People are looking forward to even more activities within both regions as investors do tend to take their cue from major companies such as AeroTurbine, especially since its industry does tend to expand over the duration of their operations which means that a significant number of opportunities will also come into play for as long as the aviation firm is present within the area.
While the South Florida region is easily recognized as being a preference among such a diverse range of boating enthusiasts, it seems that the aviation trend within the area will definitely have a place in the market as consolidation has been seen in the flying industry.
Needless to say, the powerful presence of the South Florida region in terms of today’s international trade industry is definitely a major factor in the firm’s decision to set up camp within the area. There is no doubt that there will be greater interest in the South Florida commercial real estate market, particularly the industrial sector, now that the indicators do show positive signs for the upcoming future.
If you would like to learn more about the availability of different types of commercial real estate options within South Florida, you should contact a professional real estate agent for further details.
South Florida Commercial Real Estate