{"id":8982,"date":"2023-04-04T12:06:15","date_gmt":"2023-04-04T16:06:15","guid":{"rendered":"https:\/\/www.lee-associates.com\/southflorida\/?p=8982"},"modified":"2023-04-05T12:19:35","modified_gmt":"2023-04-05T16:19:35","slug":"going-high-rent-in-humble-hialeah","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/southflorida\/2023\/04\/04\/going-high-rent-in-humble-hialeah\/","title":{"rendered":"Going High-Rent in Humble Hialeah"},"content":{"rendered":"
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Going High-Rent in Humble Hialeah<\/strong><\/h2>\n

The mostly Spanish-speaking, working class city west of Miami is getting a residential makeover<\/strong><\/h3>\n
By\u00a0Mike Seemuth<\/a>\u00a0\u00a0\u2013\u00a0<\/span> Commercial Observer<\/em><\/div>\n
April 3, 2023<\/div>\n

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With a majority Spanish-speaking population west of Miami that\u2019s approaching a quarter million, Hialeah is the sixth-largest city in Florida\u00a0\u2014 and the least diverse because it\u2019s so overwhelmingly Latino.<\/p>\n

The working-class city, just a few miles north of Miami International Airport, is in the geographic center of Miami-Dade County, where access to major roads and highways sustains a sizable trucking and warehousing industry in the city.<\/p>\n

\u201cHialeah has been known as a location where Cubans can go and live and feel like they\u2019re still in Cuba,\u201d said Miami-based\u00a0Matthew Rotolante<\/strong><\/a>, the South Florida president of brokerage firm Lee & Associates.\u00a0\u201cYou\u2019re going to hear predominantly Spanish, not English. You go to the grocery, it\u2019s predominantly Spanish food brands and food types.\u201d<\/p>\n

In recent years, it\u2019s become a magnet for multifamily developers in addition to the steady stream of migrants that have made Hialeah home. As Miami real estate values soared, and the circle of development widened, branching out from Wynwood to once-forgotten neighborhoods like Edgewater and Little River, it was only natural that developers would set their sights on Hialeah.<\/p>\n

But the neighborhood\u2019s unique makeup sets it apart from other Miami suburbs. More than 90 percent of the population speaks Spanish as a first language, about 70 percent were born in a foreign country, and many of them work in the local industrial economy.<\/p>\n

\u201cThere\u2019s a lot of employers,\u201d Rotolante said. \u201cHialeah has got a nice mixture of retail, residential and industrial real estate. Not too much office. Hialeah has become a very important industrial market.\u201d<\/p>\n

Hialeah has 30 million square feet of warehouses and manufacturing plants (and more on the way<\/a>)\u00a0 with a vacancy rate of 1.7 percent, the lowest of Miami-area submarkets, according to research from JLL. However, it also had the lowest asking rates, averaging $12.03 per square foot in the fourth quarter of 2022, compared to the countywide average of $15.11 in Miami-Dade.<\/p>\n

\u201cIt\u2019s definitely not a premier neighborhood,\u201d Rotolante said of the industrial side of Hialeah. \u201cIt\u2019s not as glossy or manicured as other markets. But it has a lot of utility for the people that are operating there. And it has a great employment base; you can get workers who live in and around there.\u201d<\/p>\n

The gritty local economy, in turn, has long supported rock-bottom vacancy rates at rental apartment buildings in Hialeah.<\/p>\n

...<\/p>\n

READ MORE...<\/a><\/p>\n

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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 $32 Billion in 2022 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":"

Going High-Rent in Humble Hialeah The mostly Spanish-speaking, working class city west of Miami is getting a residential makeover By\u00a0Mike Seemuth\u00a0\u00a0\u2013\u00a0 Commercial Observer April 3, 2023   With a majority Spanish-speaking population west of Miami that\u2019s approaching a quarter million, Hialeah is the sixth-largest city in Florida\u00a0\u2014 and the least diverse because it\u2019s so overwhelmingly Latino. The working-class city, just a few miles north of Miami International Airport, is in the geographic center of Miami-Dade…<\/p>\n","protected":false},"author":76,"featured_media":8983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,105,108],"tags":[31],"class_list":["post-8982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-industrial","category-multifamily","tag-matthew-rotolante"],"yoast_head":"\nGoing High-Rent in Humble Hialeah - Lee & Associates South Florida<\/title>\n<meta name=\"description\" content=\"Commercial Observer Discusses Hialeah Real Estate Market with Lee & Associates President, Matthew Rotolante\" \/>\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\/2023\/04\/04\/going-high-rent-in-humble-hialeah\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Going High-Rent in Humble Hialeah\" \/>\n<meta property=\"og:description\" content=\"Commercial Observer Discusses Hialeah Real Estate Market with Lee & Associates President, Matthew Rotolante\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/southflorida\/2023\/04\/04\/going-high-rent-in-humble-hialeah\/\" \/>\n<meta property=\"og:site_name\" content=\"Lee & Associates South Florida\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-04T16:06:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-05T16:19:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/southflorida\/wp-content\/uploads\/sites\/62\/2023\/04\/PR-Banner-Media-Feature_Commercial-Observer.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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2023\\\/04\\\/04\\\/going-high-rent-in-humble-hialeah\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2023\\\/04\\\/04\\\/going-high-rent-in-humble-hialeah\\\/\"},\"author\":{\"name\":\"ssabatier\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/#\\\/schema\\\/person\\\/d5447dfddeb31f214f5f2eb84c74068a\"},\"headline\":\"Going High-Rent in Humble Hialeah\",\"datePublished\":\"2023-04-04T16:06:15+00:00\",\"dateModified\":\"2023-04-05T16:19:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2023\\\/04\\\/04\\\/going-high-rent-in-humble-hialeah\\\/\"},\"wordCount\":740,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2023\\\/04\\\/04\\\/going-high-rent-in-humble-hialeah\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/wp-content\\\/uploads\\\/sites\\\/62\\\/2023\\\/04\\\/PR-Banner-Media-Feature_Commercial-Observer.png\",\"keywords\":[\"matthew rotolante\"],\"articleSection\":[\"All News\",\"Industrial\",\"Multifamily\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2023\\\/04\\\/04\\\/going-high-rent-in-humble-hialeah\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2023\\\/04\\\/04\\\/going-high-rent-in-humble-hialeah\\\/\",\"url\":\"https:\\\/\\\/www.lee-associates.com\\\/southflorida\\\/2023\\\/04\\\/04\\\/going-high-rent-in-humble-hialeah\\\/\",\"name\":\"Going High-Rent in Humble Hialeah - 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