In the first quarter of 2019, vacancy rates stabilized and rental rates quickly increased as new retail construction delivers and a record-setting amount of space remains under construction in Miami-Dade County. The vacancy rate for retail space increased by 10 basis points quarter-over-quarter, currently standing at 4.2 percent. The county saw nearly 309,000 square feet of retail space leased in the first quarter as an additional 132,482 square feet of new retail space was delivered. Miami- Dade continues to see big-box retailers expanding in the market such as grocers, electronic and furniture retails. The food and beverage industry continues to flourish in South Florida, more specifically as consumers in Miami-Dade have peaked interest in the booming food hall trend.