Clear skies for commercial
Vacancy rates remain low across Miami-Dade office, retail and industrial space
November 30, 2015 10:30AMBy Sean Stewart-Muniz
Amancio Ortego, creator of the Zara retail chain, acquired an entire block on Lincoln Road for $370 million.
From the October issue: Analysts are prescribing a healthy dose of optimism for commercial real estate in Miami-Dade County, with factors like explosive job and population growth to thank for the ongoing strength of the markets across the board.
The county is on track to blow past its peak of $6.8 billion in foreign investment recorded last year, with investors continuing to purchase trophy properties in the office and hotel sectors for hundreds of millions.
Miami’s role as a trade hub for Latin America is a steady driver of demand for local industrial space. And a bustling retail market showed its muscle with the $370 million sale of an entire block along Lincoln Road to a Spanish billionaire in September. [more]
Source: The Real Deal