Miami’s commercial real estate market has been maintaining its momentum, despite the fact that property owners wrestle with increasing insurance costs due to Hurricanes Katrina and Wilma last year. The Warehouse for Rent Miami sectors for office, retail, warehouse and rental apartments constantly declared increasing rents concurrently with decreasing vacancy rates.
As of the moment, real estate investors remain eager to immerse into the activity in the Miami commercial real estate market. Several of these investors are beguiled by Miami’s stable population growth over the year, as well by its continuously swelling international prominence. The population in Miami rose to 2.4 million in the first quarter of this year, which is about 1% higher than the same stage in the before year.
While Miami continues to be the center of significance of Latin American finance, it also has been able to pull towards you a growing volume of small warehouse space for lease. This has made Miami a much more constant arena for investment, thereby reinforcing its potential to attract more investors even further. Meanwhile, larger corporate investors have been snapping up properties from smaller private investors, which successfully is capable of setting the level of Miami commercial real estate property sales higher than last year’s levels.