West Dade, Doral Retail Market Rides Residential Wave
The West Dade and Doral area is a large retail submarket with rising development and shrinking vacancy.
April 24, 2015 at 04:14 PM
3 minute read
Amid a growing cluster of residential development in western Miami-Dade County, retail projects are in high demand.
The numbers point to steady growth with about 407,433 people living in the West Dade/Doral submarket, and a daytime population—which hints at the number of workers present during normal business hours—topping 170,000.
“Follow the rooftops,” said Barry Wolfe, vice president of investments and senior director of the national retail group at Marcus & Millichap Real Estate Investment Services. “As the population increases, there are lots of new housing, lots of new multifamily developments. Developers are looking to build, and if they can find the sites they do retail.”
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