Our Beautiful House
  • Home
  • Decorate
    Decorate
    Show More
    Top News
    How to Set Up the Perfect Home Bar
    December 3, 2020
    Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
    October 31, 2023
    Bedroom Ideas for Sophisticated Design Lovers
    May 11, 2023
    Latest News
    Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
    October 31, 2023
    10 Home Renovations That You Should Splurge on
    July 8, 2023
    Top 15 Modern Interior Designs You Need To Know
    June 1, 2023
    10 Home Repairs to Leave to the Pros
    May 18, 2023
  • Rooms
    Rooms
    Show More
    Top News
    8 Dining Room Updates for the Perfect Dinner Party
    May 14, 2020
    How to Set Up a Home Gym Anywhere in Your House
    December 3, 2020
    How to Bring Restaurant Design to your Dining Room
    April 19, 2021
    Latest News
    5 Nursery Design Trends for the Modern Home
    August 1, 2023
    40 Gorgeously Minimalist Living Rooms That Find Substance in Simplicity
    July 1, 2023
    14 Creative Kids Bathroom Decor Ideas
    May 28, 2023
    Simple Steps of Kitchen Remodeling
    May 21, 2023
  • Outdoor
    Outdoor
    Show More
    Top News
    5 New Pool Design Trends
    September 29, 2020
    Selling a Home in a Buyers Market
    June 2, 2020
    15 Backyard Activities to Enjoy Right Now
    December 4, 2020
    Latest News
    5 Best DIY Landscaping Ideas
    November 22, 2022
    15 Fun Backyard Ideas That Kids Will Surely Enjoy
    November 14, 2022
    25 Chic Modern Outdoor Furniture Ideas
    November 7, 2022
    Small deck ideas: 31 budget decking designs for tiny gardens
    October 18, 2022
  • Lifestyle
    Lifestyle
    Show More
    Top News
    Four international airlines return to Miami International Airport
    August 25, 2020
    The Best Beaches You Can Drive To In The Continental US, According To TripAdvisor
    August 7, 2020
    4 Most Iconic Places To Visit In HAWAII
    September 19, 2020
    Latest News
    The Best Basement Organizing Tips and Tricks
    January 6, 2024
    Top 50 Christmas Gifts for the Entire Family
    December 1, 2023
    Explore 41 Hilarious Thanksgiving Games for Family Fun in 2023
    November 4, 2023
    Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
    October 31, 2023
  • Real Estate
    Real Estate
    Show More
    Top News
    When Market Realities Bite, Stay Flexible and Adapt
    June 4, 2020
    Seller’s Guide to Buyer Contingencies
    May 10, 2022
    Should You Ever Sell Your House Below Market Value?
    June 7, 2020
    Latest News
    What Are Your Real Estate Goals?
    January 2, 2024
    Two Ways Homebuyers Can Win in Today’s Market
    August 6, 2023
    Home Renovations for the Aging Population
    July 24, 2023
    The Benefits of Owning a Second Home
    July 6, 2023
  • Contact
Reading: With Online Buys, Doral Warehousing In Prime Position
Share
0

No products in the cart.

Notification Show More
Latest News
The Best Basement Organizing Tips and Tricks
Organization
What Are Your Real Estate Goals?
Real Estate
Top 50 Christmas Gifts for the Entire Family
Lifestyle
Explore 41 Hilarious Thanksgiving Games for Family Fun in 2023
Lifestyle
Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
Decorate Lifestyle
Aa
Our Beautiful House
0
Aa
Search
  • Home
  • Decorate
  • Rooms
  • Outdoor
  • Lifestyle
  • Real Estate
  • Contact
Follow US
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Our Beautiful House > Blog > Real Estate > With Online Buys, Doral Warehousing In Prime Position
Real Estate

With Online Buys, Doral Warehousing In Prime Position

Last updated: 2022/11/03 at 8:28 AM
By Stefan #TheListingBroker - Real Estate
Share
6 Min Read
SHARE
This image has an empty alt attribute; its file name is buying-a-home-1024x138.jpg

It may be too early to know exactly what effect the pandemic will have on commercial real estate in Doral, but experts say one segment may emerge particularly strong: the industrial market. With consumers buying online now more than ever, a trend only accelerated by Covid-19, demand for warehouse space and shipping centers may well increase.

“The way we shop now has really shifted,” said Jose Maria “Chepe” Serrano, owner of New Miami Realty. “We knew it was coming.” The pandemic, he said, only served to move the needle faster in the direction of Ecommerce, creating a greater demand for industrial space in South Florida. 

“Industrial (space), which Doral is very strong in, is something I see holding up very well,” said Brent Palmer, a broker with Palmer Property Group who focuses on commercial tenant and buyer representation. “A lot of companies need that warehouse space.”

The Miami Airport West region, the submarket Doral’s industrial space is part of, accounts for 18.6% of industrial space in Miami-Dade, the most of any region in the county. The submarket, according to a CoStar report from July 23, hosts 1,166 buildings with a total of 46.6 million square feet. Among such buildings, the vacancy rate was only 6% as of July 23, a number Mr. Palmer said would probably be even lower if “flex space” (office buildings with some industrial space) was not included.

Four new industrial buildings have been completed in this submarket in the past 12 months totaling 469,000 square feet, and CoStar reports that three more are currently under construction and will total 210,000 square feet upon completion. More new construction in this area is a possibility, Mr. Palmer said, as demand is likely to rise. 

At the moment, the report stated that the average rent for such space in the Miami Airport West region is currently $14.14 per square foot including flex space, though Mr. Palmer said the going rate for “Class A” industrial space was probably closer to be in the $12 range per square foot and rent for “Class B” space is even lower.

The future of other areas of commercial real estate in Doral, however, is not so easy to predict.

“Prices haven’t really been affected yet,” said Mr. Serrano. “It’s too early to know what’s going on.”

According to Mr. Palmer, commercial rent for office and retail space, which has steadily climbed over the past few years, could begin to come down as vacancies increase and landlords work to lock in tenants. 

Restaurants, retail establishments and hotels have been particularly hard-hit by the pandemic, Mr. Palmer said, and lagging statistics could soon reflect this as some renters that may want to vacate or downsize are still locked in to leases and have not yet had this opportunity. Some retail space, he continued, may even be converted into warehouse space going forward given the strength of the industrial market.

At the moment, the CoStar report said, the average rental rate for office space in the Miami Airport region, which includes Doral, is $34.99 per square foot. For retail spaces this number is $34.42, but importantly does not include operating expenses, which tenants must also pay.



Maria Juncadella, a managing partner at Fairchild Partners, told Miami Today that commercial landlords have become increasingly flexible as the pandemic wears on. Those leasing office space, she said, may be willing to accept new compromises such as shorter-term leases and discounted rent for a set period. Additionally, she said, more landlords are ready to “kick the can down the road” and offer single-year extensions on leases rather than “hashing out new terms for renewal.”

When it comes to the preferences of these tenants, Ms. Juncadella said, privacy and cleanliness are at the top of the list. Shunning the recent trend of open layouts, many are looking for spaces with private offices and other features that lend themselves to social distancing, such as sidewalk entrances.

According to Ms. Juncadella, mortgage companies, government agencies, technology companies and medical practices are among the top customers for office space in Doral at the moment. 

Mr. Palmer also noted the demand for medical space in Doral, which he said many traditional office buildings in the area cannot accommodate. 

“Medical is one aspect of office space that (will) always be strong,” he said. “People are always going to need a doctor.” Despite the rise of telemedicine, he added, procedures and some medical appointments simply can’t be done virtually.

“Growth in Doral has been very positive,” Ms. Juncadella said, “but we have not kept up on the medical end.” Medical spaces, she added, do not last long on the market.


SIGNUP FOR NEWSLETTER

Credit: miamitodaynews

Stefan #TheListingBroker - Real Estate August 1, 2020
Share this Article
Facebook Twitter Email Print
How you feel with this article?
Love0
Happy0
Surprise0
Wink0
Sleepy0
Sad0
Angry0
By Stefan #TheListingBroker - Real Estate
Stefan is a Real Estate Broker and REALTOR® with over 8 years of professional experience. Prior to starting his real estate career, Stefan spent 11 years as a foreclosure defense and divorce attorney (quite a combo, huh)? Conducting a real estate business with a a diverse legal background has allowed him to gain unique experiences that make him a well-rounded resource for his clients. Stefan is a proud Florida State University alumni, having earthed his bachelor’s degree in Management, prior to attending law school.
Leave a review Leave a review

Leave a review Cancel reply

Your email address will not be published. Required fields are marked *

Please select a rating!

Our Beautiful House 

  • Home
  • Decorate
  • Rooms
  • Outdoor
  • Lifestyle
  • Real Estate
  • Contact
Subscribe to Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Find Us on Socials

© 2022 by #TheListingBroker. All Rights Reserved.

✕

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?