Increased Demand Sparks Record Low Vacancy

Amidst a record-breaking year for Miami-Dade County in 2021, industrial market fundamentals grew even stronger in the first quarter of 2022. The ongoing global supply chain challenges compelled existing tenants’ requirements to include additional warehouse space for storage. Simultaneously, new-to-market tenants continued to flock to the area, despite a shrinking supply of available space. Together, this confluence of activity triggered a record low vacancy rate of 2.7 percent, a decrease of 150-basis points year-over-year at the end of the first quarter. Rental rates also reached a record high of $11.80 per square foot NNN, an increase of 8.3 percent year-over-year. This was a result of the heavy increase in demand but also due in part to property owners who looked to offset the increase in costs as the price of inflation grew.

22Q1 Miami Dade County Industrial Market Report

Download Report

Related Experts

Verity Mosquera

Research and Consulting Manager

Fort Lauderdale

+1 954 652 4611

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.

View expert