Figures from Cushman & Wakefield show just over 6.3 millionsf of first-half leasing and sales transactions in Miami-DadeCounty for manufacturing, warehouse/distribution and office/servicespace. Countywide, the area had a positive net absorption of405,675 sf. About one-third of that activity was in the nearly 42million-sf Airport West submarket.

In that market, abundant construction and a softening of LatinAmerican economies contributed to negative six-month absorption of452,370 sf, pushing up the vacancy rate to 12.1% from 10.1%.

Despite higher vacancies, Airport West continues to flourish asMiami-Dade's most sought-after industrial submarket, not only byfreight forwarders prizing its convenience to the airport but alsoby high-tech firms. Owners of warehouse space with asking rentsaveraging 6.35 psf are rushing to convert whatever such facilitiesthey can to switch and web-hosting facilities leasing for $10 to$20 psf.

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