More and more industry analysts are finding that Miami’s local economy – in particular its real estate market – is recovering well from the economic recession. Although the city is better known as a center of tourism and hospitality, its underrated industrial properties are reporting healthy gains, which bodes well for the future of Miami Commercial Real Estate.
Indeed, a recent report from a major commercial real estate analyst has borne this out:
NAI Miami recently completed its first Quarterly Report for Fourth Quarter 2012.
The report provides market data for the Miami-Dade market, highlighting the office, industrial, retail and investment markets, and includes major sales and lease transactions, sector trends, as well as next quarter predictions.
One of the more notable observations: The fourth quarter of 2012, saw the industrial sector improve across much of Miami-Dade County. There was significant activity in the market for smaller properties while most larger properties were stable. But whether that trend will continue remains to be seen.
“Due to the influx of capital from Latin America and Europe; low interest rates; and the increases in Miami’s infrastructure including the port, railway, and highway expansion- there will be an upswing in the industrial sector but not as significant as in 2012,” said Gabriel Garcia-Menocal, Executive Director with NAI Miami.
As a fast-growing and globalized city, Miami is attracting entrepreneurs, professionals, and companies from all over the world. This is helping to drive the local economy, which is diversifying into small but nimble sectors in order to meet the demand.
In short, Miami Commercial Real Estate offers a lot of opportunity at an ideal time. To learn more about this rewarding market, or to search through our wide selection of high-quality commercial properties, contact Office in Miami at 305-571-9991.