1. Home
  2. Here’s how much industrial land prices have increased in South Florida since 2013

Here’s how much industrial land prices have increased in South Florida since 2013

July 23, 2018

An industrial warehouse (Credit: Max Pixel)

Whats more valuable than residential or commercial real estate in South Florida?  You guessed it – Industrial Land!  The cost of building new warehouses has been rising in South Florida thanks in part to a dwindling and more expensive supply of land.

Land prices have skyrocketed in recent years, up 106 percent this year in Broward County to about $1.2 million per acre since 2013, according to research analyzed by Colliers International South Florida. In Miami-Dade, industrial development sites are trading for about $940,000 per acre, up more than three times the $297,000 per acre that land was selling for in 2013.

Let’s look at land sales for industrial use that sold for $2.5 million and up:

Land is most expensive in Broward, but prices have increased at a faster clip in Miami-Dade, according to the research. In Palm Beach, the cost of industrial land grew at a slower pace over the five-year timeline. In 2018, developers paid about $304,000 per acre, compared to the $209,000 per-acre cost in 2013. And land prices in Palm Beach County actually peaked in 2017, when sales averaged about $556,000 per acre.

Here’s the breakdown from 2013 to 2018:

Active players in Broward include Bridge Development Partners, which paid $12.3 million for 40 acres of land in Pompano Beach in November. There, the firm is planning a 467,000-square-foot industrial park. The trade broke down to $307,500 per acre.

Get Wise with WiseCat Realtors

  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    When are you looking to purchase?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need assistance with financing?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need to also sell your property?