The Miami industrial market overall vacancy ended the quarter at 2.3%, down 300 bps YOY and the tightest the market has been in the last two decades as tenant demand was insatiable even as new supply raced to meet it.
Overall vacancy in the Miami office market ended the first quarter of 2022 at 18.2%, a decrease of 60 basis points (bps) when compared to the first quarter of 2021 and 10 bps lower than the previous quarter.
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