{"id":10151,"date":"2025-04-17T11:56:25","date_gmt":"2025-04-17T15:56:25","guid":{"rendered":"https:\/\/www.lee-associates.com\/southflorida\/?p=10151"},"modified":"2025-04-18T17:17:58","modified_gmt":"2025-04-18T21:17:58","slug":"demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/southflorida\/2025\/04\/17\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\/","title":{"rendered":"Demand for Doral commercial real estate slides, but prices keep rising"},"content":{"rendered":"
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\n\t\t\"Lee\n\t<\/div>\n\n

Lee & Associates South Florida Senior Vice President, Conner Milford Discusses Doral Market with Miami Today<\/h3><\/div><\/div>
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'Demand for commercial real estate slides, but prices keep rising'<\/h1>\n
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<\/p>\n

By Janetsky Lug<\/a>o \u00a0\u2013\u00a0<\/span> Miami Today<\/div>\n
April 17th, 2025<\/div>\n

 <\/p>\n

Doral\u2019s commercial real estate scene continues to see rising prices despite the pullback in demand.<\/p>\n

\u201cI think the year started out pretty hot in comparison to the past ... 18 months,\u201d said Conner Milford<\/strong><\/a>, senior vice president with Lee & Associates. \u201cHowever, it\u2019s definitely slowed down a bit here more recently.\u201d<\/p>\n

Mr. Milford said a possible reason for this slowdown could be the uncertainty surrounding tariffs impacting goods coming in and out of the country.<\/p>\n

\u201cWe've certainly seen kind of a pullback from tenant demands,\u201d he said, \u201cand even so far as to have users, sort of business owners, tell us that they\u2019re kind of holding off for, I guess, the term.\u201d<\/p>\n

\"Conner<\/a>People, he said, are waiting to see how the conversation focused on tariffs develops before they decide to move forward on acquiring more space.<\/p>\n

Despite the slowdown in demand, said Mr. Milford, prices are increasing, but not at the same speed as in the past.<\/p>\n

\u201cI think what you\u2019re seeing now is a continuation of what was happening last year,\u201d he said, \u201cwhich is landlords giving more concessions during leasing negotiations, so they\u2019re keeping their rents where they\u2019re asking, or at least somewhere near they\u2019re asking. Instead, they\u2019re giving some concessions, such as tenant improvement dollars or three months of rent at the beginning to entice tenants to come to their building.\u201d<\/p>\n

Due to the constrained supply of buildable land in Miami, said Mr. Milford, prices continue to increase despite the softening in demand.<\/p>\n

\u201cYou have the Everglades,\u201d he said, \u201cyou have the ocean, so there\u2019s really nowhere else to go and build. Unlike a lot of markets in the US that have overbuilt, it\u2019s very hard to overbuild in South Florida because of the lack of buildable land that\u2019s available.\u201d<\/p>\n

However, Carlos Villanueva, district sales manager for the Coral Gables and Coconut Grove office at the Keyes Company, noted Doral\u2019s commercial real estate has remained strong in the sectors of retail and industrial.<\/p>\n

\u201cWhere we\u2019ve seen demand weaken is in office space, which is true in most places,\u201d he said, \u201cbut overall, the demand for the Doral area because of its location, because of its density, highway access, all of it actually makes it very attractive for commercial real estate.\u201d<\/p>\n

Industrial space continues to be in strong demand, both when it comes to leasing and selling, he said, and is most likely the market leader in the Doral, followed by retail.<\/p>\n

\u201cIn the office sector, for Doral, we\u2019re seeing an increased vacancy rate,\u201d said Mr. Villanueva. \u201cIndustrial is around 5% where in office is 9%, so we\u2019re seeing that the market\u2019s definitely still moving in the office sector, but it slowed down a little bit.\u201d<\/p>\n

The median asking price in retail in Doral is $48.22 per foot, he said, on the industrial side it is $20.88 and office is $52.<\/p>\n

Doral is a resilient market because it is geographically in the center of the county and very close to the cargo aspect of the airport and the car component of the airport, said Mr. Villanueva, as well as the Port of Miami.<\/p>\n

\u201cThe transportation arteries,\u201d he said, \u201ccontinue to make it very attractive.\u201d<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div>

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About Lee & Associates South Florida<\/strong><\/h3>\n

Lee & Associates South Florida is a fully vertical commercial real estate brokerage firm focused on industrial, office, retail, multifamily, investment and land sectors. Our dedicated team of professionals is led by Matthew Rotolante, CCIM, SIOR a 4th generation South Florida native in a family that has owned and operated commercial property here since 1928. Lee & Associates is the largest agent owned brokerage in the nation with Senior Agent\u2019s ability to earn profit share resulting in the highest splits while still receiving full resources, support and leads from our national network. Our collaborative and cheerful culture allows for open communications throughout the company, fostering the sharing of information and best practices to better enable client decision making.\u00a0 The Lee & Associates\u2019 robust national network that sold and leased over $120 Billion over the last 5 years offers clients a cross-market platform of expertise and deal opportunities across all asset specialties and representation roles. For the latest news from Lee & Associates South Florida, visit leesouthflorida.com<\/a>\u00a0or follow us on\u00a0Facebook<\/a>,\u00a0LinkedIn<\/a>,\u00a0Twitter<\/a>\u00a0and\u00a0Instagram<\/a>, our company local news<\/a>.<\/p>\n

About Lee & Associates<\/strong><\/h3>\n

Lee & Associates is a commercial real estate brokerage sales, leasing and management firm. Established in 1979, Lee & Associates has grown its service platform to include over 75 offices\u00a0in the United States and Canada. Lee & Associates is the largest agent owned commercial real estate brokerage where agents get the greatest return for their efforts and hence are more committed and better enabled to provide superior results for their customers. \u00a0For the latest news from Lee & Associates, visit\u00a0lee-associates.com<\/a>\u00a0or follow us on\u00a0Facebook<\/a>,\u00a0LinkedIn<\/a>,\u00a0Twitter<\/a>\u00a0and\u00a0Link<\/a>, our company blog.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div>

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\n\t\t\t\n\t\t\t\"Lee\n\t\t\t<\/a><\/div>\n\n<\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"

‘Demand for commercial real estate slides, but prices keep rising’ By Janetsky Lugo \u00a0\u2013\u00a0 Miami Today April 17th, 2025   Doral\u2019s commercial real estate scene continues to see rising prices despite the pullback in demand. \u201cI think the year started out pretty hot in comparison to the past … 18 months,\u201d said Conner Milford, senior vice president with Lee & Associates. \u201cHowever, it\u2019s definitely slowed down a bit here more recently.\u201d Mr. Milford said a…<\/p>\n","protected":false},"author":76,"featured_media":8889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,105],"tags":[172],"class_list":["post-10151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-industrial","tag-conner-milford"],"yoast_head":"\nDemand for Doral commercial real estate slides, but prices keep rising - Lee & Associates South Florida<\/title>\n<meta name=\"description\" content=\"Lee & Associates South Florida Senior Vice President, Conner Milford Discusses Doral Market with Miami Today\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/southflorida\/2025\/04\/17\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Demand for Doral commercial real estate slides, but prices keep rising\" \/>\n<meta property=\"og:description\" content=\"Lee & Associates South Florida Senior Vice President, Conner Milford Discusses Doral Market with Miami Today\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/southflorida\/2025\/04\/17\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\/\" \/>\n<meta property=\"og:site_name\" content=\"Lee & Associates South Florida\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-17T15:56:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-18T21:17:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/southflorida\/wp-content\/uploads\/sites\/62\/2023\/02\/PR-Banner_Miami-Today_Conner-Milford.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1250\" \/>\n\t<meta property=\"og:image:height\" content=\"521\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"ssabatier\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ssabatier\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/04\\\/17\\\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/04\\\/17\\\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\\\/\"},\"author\":{\"name\":\"ssabatier\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/#\\\/schema\\\/person\\\/d5447dfddeb31f214f5f2eb84c74068a\"},\"headline\":\"Demand for Doral commercial real estate slides, but prices keep rising\",\"datePublished\":\"2025-04-17T15:56:25+00:00\",\"dateModified\":\"2025-04-18T21:17:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/04\\\/17\\\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\\\/\"},\"wordCount\":873,\"image\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/04\\\/17\\\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/wp-content\\\/uploads\\\/sites\\\/62\\\/2023\\\/02\\\/PR-Banner_Miami-Today_Conner-Milford.png\",\"keywords\":[\"Conner Milford\"],\"articleSection\":[\"All News\",\"Industrial\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/04\\\/17\\\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\\\/\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2025\\\/04\\\/17\\\/demand-for-doral-commercial-real-estate-slides-but-prices-keep-rising\\\/\",\"name\":\"Demand for Doral commercial real estate slides, but prices keep rising - 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