ComReal Miami 3rd Quarter Industrial Market Report

ComReal Miami has released it's 3rd Quarter Industrial Market Report for Miami-Dade County. As expected, Vacancy Rates have risen from 6.7% to 7.5%. However, the average Lease Rate slightly increased to $8.53 psf Gross. The explanation for this is that Landlords are still holding on to high Miami warehouse lease rates as long as possible. But expect landlords of Miami warehosue spaces to make more concessions as the economy softens and there are fewer tenants seeking to lease space. ComReal also expects a slow retail, holiday season for the 4th Quarter of 2008. This will eventually effect the Miami warehouse occupancy rate as tenants reduce their inventories.

One of the largest for the 3rd Quarter was ComReal's lease of a Hialeah warehouse space of 103,000 sq. ft.

To download the entire report, please visit http://www.edwardredlich.com/News&Press.htm

Edward Redlich, SIOR, CCIM
Vice-President Industrial Sales and Leasing
ComReal Miami, Inc.
eredlich@comreal.com

Innovative Stone Locates 103,000 Sq. Ft. Hialeah Warehouse

ComReal Miami’s Industrial Team comprised of Edward Redlich and Christopher Spear, successfully located a Hialeah warehouse for Innovative Stone. The space consists of 103,000 sq. ft. and is part of the old Winn-Dixie warehouse distribution center. The property is located at 725 S.E. 9^th Court in the Hialeah warehouse area.

Innovative Stone warehouse distribution centers across the United States and can now add South Florida to their list thanks to the efforts from Ed Redlich and Chris Spear of ComReal Miami.

Innovative Stone contacted ComReal in June 2008 to seek their assistance in locating a Miami warehouse space in South Florida. ComReal prepared an extensive site selection which included a variety of warehouses from Miami to Pompano Beach. After viewing dozens of Miami-Dade and Broward County warehouse spaces, Innovative Stone chose the Hialeah property because of its unique layout, which provided the exact logistical layout which Innovative Stone was seeking.

Innovative Stone is one of the leading global suppliers of natural stone serving the commercial and residential sectors with operations in New York, Brazil, China, India and Italy. Innovative Stone’s impressive client roster includes major business headquarters like the new Time Warner Center and Bloomberg building in New York; prominent retailers such as Bloomingdale’s, Macy’s, Neiman Marcus, Nordstrom and Tiffany’s; and hotels such as Harrah’s Casinos.

Innovative Stone dominates the natural stone industry because of its focus on delivering innovation in both materials and technology, the breadth of its client portfolio, its reputation for exacting detail and its unparalleled performance in handling the most challenging and high-profile assignments.

For more information on ComReal Miami commercial real estate, please visit www.edwardredlich.com. For additional details on this transaction, please contact:

Edward Redlich, SIOR, CCIM at 786-433-2379, eredlich@comreal.com

Christopher Spear, Associate 786-433-2099, cspear@comreal.com