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Q3 2020 Miami Industrial Market Report

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Miami-Dade County Industrial Market Attracts Investors in the Third Quarter of 2020 Despite Weakening Demand and Economic Uncertainty

The Miami-Dade County industrial market fundamentals shifted in the third quarter of 2020 as a reaction to the implications of the coronavirus and the considerable amount of buildings that delivered in the previous quarter. Despite industrial being one of the few asset classes that saw increased demand, talks of a COVID-induced recession and struggling tenants have had negative effects on the Miami-Dade County industrial rental rate and inquiries from new tenants. Leasing activity in the third quarter of 2020 was on par with the previous quarter but almost 1 million square feet less than the same time last year. Meanwhile, the overall industrial asking rent in Miami-Dade County ended the third quarter at $10.09 per square foot, a 3.5 percent decrease from the previous quarter while the warehouse asking rent ended the quarter at $9.70 per square foot, a 1.7 percent decrease from the previous quarter.

3Q 2020 MDC Industrial

Q3 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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