(Crystal Proenza is associate editor of RealEstateFlorida.)

MIAMI-During the first quarter of 2008, the South Floridaindustrial real estate market has experienced an increase invacancy rates and stabilizing rents. However, market reports andexperts say the region is just experiencing equalization after 2007saw rising rents, sometimes in the double digits, and record-lowvacancy rates under 5%. Rising fuel costs are also putting a strainon the industrial market, making it more expensive to operatecommercial vehicles.

In Miami-Dade County, the current vacancy rate is 6.3%, which ishigher than last year, but still below the statewide average of6.5%, according to research by Cushman & Wakefield of Florida.Meanwhile, a first-quarter report by CB Richard Ellis points to anincrease in sublease space in the region, offering more leasingopportunities than at any time in the last four years.