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MIAMI – Vacancy is expected to rise and rents will fall in Miami-Dade this year as a decline in employment reduces demand for goods and services offered by retailers, wholesalers and contractors, according to the Midyear 2009 National Industrial Report by Marcus & Millichap. In addition, a drop in international trade will decrease the space needs of importers and exporters.
“Transaction velocity declined 28% last year, and only a few deals have occurred so far in 2009,” says Kirk Felici, regional manager of the firm’s Miami office.
