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The market’s meteoric rise has pushed prices to record levels

• As the industrial market keeps soaring in Miami, investors continue to look for more attractive returns as the as cycle nears its end. The question is, where can investors go?

• The lack of industrial properties available for sale has pushed the average price per-square-foot to record levels, increasing 67.5 percent since 2009. This is indicative of an increased demand for a scarce supply. As a result, there is almost 5.0 million square feet of industrial product currently under construction, in large part because the boom in e-commerce continues to drive logistics user to seek larger blocks of space.

• Flagler’s Countyline Corporate Park (will total nine buildings upon completition) sold its first three buildings for $180 per-square-foot to Duke Realty. The park has contractual rent bumps that will increase NOI by 24.0 percent over the next 10 years.

• The outlook for the warehouse market continues to be bright. A number of recent deals show that the average price per-square-foot will likely continue to increase in the near to medium term.
   

Source: JLL Research




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