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Q2 2020 Miami Industrial Market Report

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Industrial Proves to be Miami-Dade County’s Most Resilient Sector in the Face of Covid-19 Disruption

Miami-Dade County’s industrial market proves to be the most resilient sector in South Florida in the face of COVID-19, however, market indicators such as the uptick in vacancy rates must be evaluated with context. Miami-Dade County delivered more than 1.5 million square feet of highly sought after new industrial product in the second quarter of 2020. Typically, new development takes 12-to-18 months to lease up so the rise in vacancy rates was expected. Miami Central Commons in Doral, Bridge Point Commerce Center and Eastview Commerce Center in Miami Gardens, and Miami International Tradeport in Medley were all part of the large number of new deliveries this quarter. This delivery had a large impact on vacancy rates across the County. However, more importantly, net absorption remained positive meaning the industrial market is still growing and activity remains strong in Miami-Dade. Needless to say, the pandemic has contributed to the rise in vacancy rates as demand from airlines, cruise lines and freight forwarders lulled, however, this decrease is offset by the increasing need for warehouse space driven by the growth in e-commerce.

2Q2020MDCIndustrial

Q2 2020 Miami Industrial Market Report

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Verity Mosquera

Research and Consulting Manager

Fort Lauderdale

As Research and Consulting Manager in the South Florida market, I apply my experience in analytics, leadership and international business to monitor the global economy and make projections that help guide our brokers and clients in strategic decision making. My expertise in both leasing and investment sales ranges across multiple asset types including retail, industrial, office and multifamily.  

Prior to joining Colliers, I worked for The Washington Economics Group, Inc., where I led a team of eight economists as Manager of Client Services to prepare detailed economic impact analyses of a number of high-profile transportation and real estate projects in South Florida, including SkyRise Miami and All Aboard Florida. Other notable South Florida clients that I have worked with include Tate Capital, Odebrecht, Miami-Dade Expressway Authority and the International Speedway Corporation. Prior to moving to the United States in 2011, I graduated from law school and was a data analyst for Equity Insurance in Brentwood, UK.

I am active in the commercial real estate community through multiple organizations and committed to strengthening the participation of young leaders in the real estate sector through my current role as Co-Chair of the Urban Land Institute’s Young Leadership Group.

I also have a strong passion for teaching and mentoring students to help prepare them for careers in commercial real estate. I served as an adjunct professor for Miami Dade College School of Business teaching Principles of Management to undergraduate students pursuing their Bachelor’s degree in Business Administration and have recently served as a guest lecturer at Florida International University’s Tibor and Hollo School of Real Estate teaching market research skills to graduate students in the Masters in Science in International Real Estate (MSIRE) program. 

While earning my MBA at St. Thomas University, I served as president of Future Business Leaders of America - Phi Beta Lambda and spoke numerously on business and women career issues. St. Thomas University awarded me with the Outstanding Graduate Award and the Women in Leadership Award in recognition of these efforts.

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