Prologis Pays $55M For Verizon Subsidiary HQ Near Doral With Plans For Industrial Redevelopment.
Prologis Expands Its Industrial Portfolio Near Doral Prologis has purchased a Verizon subsidiary’s headquarters near Doral for $54.5 million. The company plans to redevelop the property into a modern industrial facility, further expanding its presence in one of South Florida’s strongest logistics markets. The San Francisco-based real estate investment trust acquired the property at 9700 […]
South Florida Commercial Real Estate Performance Summary
Over the last year, the South Florida commercial real estate market has remained resilient despite the wider economic slowdown. Still, moderate demand across property types has slowed rent gains, while new construction has widened space availabilities, particularly in the multifamily and big-box industrial segments. The most significant change from our prior update has been the marked slowdown […]
Cooling Inflation Boosts September Rate Cut Odds
Inflation declined to 2.5% in June, supporting the Fed’s potential September interest rate cuts and hinting at a “soft landing” for the economy. WASHINGTON — The Federal Reserve’s favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates […]
Miami Dade announces plans to build airport cargo facility
Miami’s major airport is getting an upgrade with a new building. This is expected to help meet the airport’s growing international commerce demands. The Miami-Dade County Commission approved a lease agreement with Miami Gateway Partners, LLC, to build a four-storey cargo facility. This would increase Miami International Airport’s storage capacity by 2 million tons. As a result, […]
Prologis Raises Outlook in Bet on Warehouse, Data Center Demand
Prologis warehouse demand showed signs of improvement in the second quarter as leasing activity increased. In fact, Prologis raises outlook in bet on warehouse as part of its positive results this quarter, reflecting broader market conditions where Prologis Raises Outlook demand Warehouse interest is evident. The company raised its full-year financial outlook as well. The […]
County approves $400 million expansion project at Miami airport
The Miami-Dade County Commission unanimously approved a 40-year lease for a major cargo development at Miami International Airport (MIA). The agreement allows Miami Gateway Partners LLC to develop a $400 million cargo hub designed to expand the airport’s cargo capacity and support Miami’s growing logistics industry. The project is another significant investment in Miami’s transportation […]
Small Bay Industrial Properties See Healthy Leasing and Limited Supply in South Florida.
Why Small Bay Industrial Properties Continue to Outperform in South Florida While the large warehouse segment of the industrial market continues to face rising supply and moderating demand, small bay industrial properties remain in short supply. As a result, leasing activity and rent growth in this segment continue to outperform the broader industrial market, especially […]
Developers obtain $26 million construction loan for Hialeah warehouse
East Capital Partners and VlietCo Enterprises secured a $26 million construction loan for a new speculative warehouse in Hialeah, adding another major industrial development to the Miami-Dade County market. Developers obtain $26 million construction loan for Hialeah warehouse, marking a significant investment in the area. FirstBank Florida provided the construction financing to co-developers WGC 97th […]
Large warehouse breaks ground in Miami’s Allapattah
Longpoint Realty Partners and Vivo Real Estate Group recently broke ground on a 107,632-square-foot cold storage warehouse in Miami’s Allapattah neighbourhood. The facility is at 2260 N.W. 27th Ave. Called Point 27th, the warehouse facility is projected to be finished early next year. It will include high-efficiency refrigeration systems and a glycol system. Moreover, the facility will […]
Amazon Signs Another 1M SF Warehouse Lease
Amazon Expands Its Logistics Network with Another Major Warehouse Lease in Southern California Amazon continues to expand its logistics network with another warehouse lease of more than 1 million square feet in Southern California, reinforcing its long-term investment in industrial real estate despite a more balanced market. The new facility sits on a 60-acre site […]