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South Florida industrial real estate properties are booming

Many of the large real estate deals that get the most press in Miami are the commercial transactions involving luxury properties. Hotels, penthouse residences, shopping areas, and beachfront properties embody Florida’s luxury brand. But the market for industrial real estate, such as warehouse and factory space, in South Florida should not be forgotten; indeed, the purchase and sale of these properties is booming as well.

According to one of South Florida’s specialists in industrial real estate, the future of industrial real estate is bright. The University of Miami has invested in a new healthcare complex attracting scientific minds. The Port of Miami is receiving fresh upgrades to encourage additional shipping traffic, and it has relaxed U.S. Customs duties on products for businesses in the area. Technology in the area is linking the various trade channels, and foreign investors are flooding South Florida with business interest of their own. The industrial rise has brought the market back to life, and prices in some locations are matching their peaks seen in 2007. Moreover, the industrial real estate market does not seem to be cooling anytime soon, and it appears that investors will continue to want to purchase millions of square feet of space from developers and owners.

People who wish to purchase industrial real estate may find it helpful to meet with experienced attorneys who can provide assistance every step of the way. From conducting due diligence and engaging in contract negotiation, to assisting with asset-based lending and purchase agreements, legal counsel can be there to support the process. Attorneys can also represent the seller of real estate in order to streamline contract negotiations for a successful real estate closing.  

Source: Miami Herald, “Q&A: Miami’s industrial real estate makes a comeback,” Martha Brannigan, July 21, 2013

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