Miami Ranks Among Safest U.S. Cities, Gallup Poll Says
A new Gallup poll shows that Americans now think of Miami as one of the safest cities in the U.S. According to survey, 59% of Americans consider Miami a safe city to live and visit – the 5th highest ranking city, and far ahead of cities such as New York, Los Angeles, Chicago, or San Francisco. It […]
Miami International Airport soars toward record 52 million passengers
Miami International Airport (MIA) is on pace to handle more than 52 million travelers this year, according to statistics released this week. The airport served 26.2 million passengers during the first six months of 2023, a 2.6% increase over the first six months of 2022. Traffic rebounded post-covid last year to a record-breaking 50,684,396 passengers, […]
Commercial real estate booms near Miami International Airport
Due to its proximity to Miami International Airport, Doral’s commercial and industrial real estate remains strong, as one of the most sought-after areas in Miami-Dade County. The Doral and airport sector, as of the second quarter of the year, has a vacancy of 3.9% and an average asking rate of $50.27 per square foot for […]
Miami International Airport to get one new hotel, not two
Miami-Dade County Commission Chairman Oliver G. Gilbert III was pushing for two new hotels at Miami International Airport. He got half of what he asked for at Tuesday’s meeting. The quest for a new, upscale hotel at the airport was supposed to be “expedited,” on the fast track, when it was first proposed. That was […]
Hurricane Ian Rocked Southwest Florida. Nine Months Later, Its Real Estate Market Is Booming Again.
Last September, Hurricane Ian caused widespread damage and destruction to Southwest Florida, with the Cape Coral-Fort Myers metropolitan area taking a direct hit. In the aftermath of the Category 5 hurricane’s 155-mile-per-hour winds, many residents were forced to leave their homes and seek shelter elsewhere, while many businesses permanently closed their doors, leaving empty storefronts across […]
Prologis Buying $3.1B In Industrial Properties From Blackstone
Prologis agreed to buy 14M SF of industrial property from Blackstone in a $3.1B all-cash deal aimed at strengthening its position as the world’s largest industrial property company. The acquisition of about 70 properties expands Prologis’ real estate portfolios in Atlanta, Washington, D.C., California, Dallas, Las Vegas, New York and New Jersey, Phoenix and South Florida, the companies […]
South Florida’s Industrial Developers Bet On Long-Term Rent Growth
As industrial rents continue to rise in South Florida, investors are looking to buy sites and build warehouse space. The only problem is there’s very little land left. Squeezed between the ocean and the Everglades, South Florida’s industrial developers are increasingly turning to smaller sites and footprints as they look for opportunities in a severely land-constrained […]
RE Development: 3 Fla. Cities in U.S. Top 20
Census data shows the last decade’s most active development is in the Sun Belt. Texas holds top spots with Jacksonville (7), Orlando (11) and Tampa (15) close behind. ORLANDO, Fla. – A study of real estate development based on U.S. Census Bureau data covering the last decade finds Texas cities in the top five spots, […]
Second phase of logistics development in Opa-locka to add hundreds of jobs
Construction on the second phase of a massive logistics development in Opa-Locka is expected to break ground later this year, bringing tenants in a variety of industries and more jobs paying above minimum wage as the city’s warehouse capacity continues to expand. Ironwood Commerce Center II will sit on 740,000 square feet of property where […]
Fort Lauderdale and Miami Boast the Highest Logistics Rent Growth in the Nation
Annual rent gains for logistics space in the first quarter of 2023 totaled over 19% for both Fort Lauderdale and Miami, the highest across all markets tracked by CoStar. Tight vacancy rates for logistics space of 3.8% and 1.8%, respectively, in Fort Lauderdale and Miami highlight the continued demand and lack of available supply, enabling […]