SOCIETY OF INDUSTRIAL AND OFFICE REALTORS (SIOR) is known for it's exceptional market knowledge and capabilities of its members and the SIOR Commercial Real Estate Index. Ed Redlich, one of only 25 Miami SIOR's, has provided a summary of the results of the 4th Quarter 2008 survey below for the Miami industrial real estate market.The Industrial Market Index, a miniscule 2.1 points higher than office, fell 15.4 points, its greatest quarter-to-quarter decline since the Index began in Third Quarter 2005, landing it at 43.6 points to end the year.
Respondents from the South, scored 54.2 points—the best score of all the regions—helped along by the East South Central and West South Central sub-regions which reported a score of 57.8 and 66 points scores respectively. Compared to other regions, vacancy rates in the South were closer to their Fourth Quarter 2007 level and respondents from the South reported stable prices.
Posted by
Edward Redlich
SIOR Miami
786-433-2379
eredlich@comreal.com
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