January 19, 2023
MIAMI – Transwestern Real Estate Services’ (TRS) South Florida Industrial Team of Walter Byrd, Ben Eisenberg, Thomas Kresse, John Vaught and Carlos Gaviria completed 55 sales and lease transactions totaling 6.8 million square feet and $581 million in value in 2022.
“Our South Florida Industrial Team achieved record-setting performance in 2022,” said Eisenberg, Executive Managing Director at Transwestern. “As the unprecedented rise in interest rates changed asset values, we provided strategic real estate direction to clients nationwide, securing long-term protection and flexibility for occupiers and stable tenants for landlords at favorable rental rates.”
According to market research by Transwestern, Miami absorbed 5.4 million square feet of industrial space in 2022, representing the highest calendar year total on record. The market’s occupancy growth closed the fourth quarter with more than 1 million square feet of net new absorption for the seventh time in the past nine quarters.
Miami reported $2.6 billion in industrial sales in 2022, nearly 50% more than 2021 totals, the previous highest year on record. Pricing has been consistently near or above the $100 per square foot threshold since 2014, rising from $178 per square foot in the fourth quarter of 2021 to $264 per square foot at year-end 2022.
Transwestern’s South Florida Industrial Team provides creative solutions that maximize real estate value through a sophisticated and proven methodology that helps meet and exceed financial objectives. With nearly 100 years of combined experience, the team uses deep market knowledge and industry expertise to uncover hidden opportunities and capitalize on shifting market dynamics.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Executive Managing Director
Executive Managing Director
Senior Vice President
Vice President of Industrial Leasing