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 […]
Property Management Success: Cool Heads for Cold Storage
Over the past several years, cold storage has become an increasingly heated industrial specialty. According to Grand View Research, the climate-controlled storage sector, worth $36.9 billion as of 2023, is expected to grow 17.5 percent annually by 2030. Much of this demand is structural. In a recent CPE Viewpoint, David Greek of Greek Real Estate Partners cited increased […]
Biden Increases Tariffs on Chinese Imports for Computer Chips, Electric Vehicles
During President Joe Biden’s administration, billions of dollars in factories making semiconductors, electric vehicle parts and solar panels were built partly to take advantage of federal subsidies meant to bolster U.S. production of these goods. Now Biden’s put some of those signature legislative items to the test. Biden on Tuesday approved higher tariffs on various cheap Chinese […]
Fed’s Powell: Rate Cuts Likely Delayed This Year
If inflation continues, long-anticipated interest rate cuts may not happen this year, the Federal Reserve chair said. Interest rates influence mortgage rates. WASHINGTON — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer […]
Business Rent Tax Reduction Set for June
A cut in the state’s commercial lease sales tax, from 4.5% to 2.0%, will begin on June 1, weeks earlier than originally expected. Business owners will see an earlier-than-anticipated reduction to the state’s lease tax, beginning in June rather than July, state leaders said. Florida’s commercial lease sales tax rate, also known as the Business […]
Getting in the Heads of Industrial Tenants
An excess of supply in some industrial markets has led to more rentable options and more favorable leasing terms for tenants. With new construction starts taking a more than 70 percent dive since early 2022, however, according to a 2023 Savills report, demand is likely to quickly outpace new deliveries. Until then, tenants have their […]
Industrial Rents Rise as New Pipeline Rebalances
National industrial in-place rents increased by 7.6% year-over-year to an average of $7.74 per square foot in January as the industrial new supply pipeline undergoes a rebalancing, according to CommercialEdge’s February Industrial Report. This data clearly shows that Industrial Rents Rise as New Pipeline Rebalances, reflecting ongoing shifts in the sector. The national vacancy rate […]
Cold Storage Is Hot — and It Will Stay That Way for A While
Forget labs or data centers. The true mission critical infrastructure of American life is the 3.7 billion square feet of big, boxy refrigerated warehouses that have recently become a real estate asset of interest. Significant changes in grocery shopping, restaurant operation, pharmaceutical storage (including new diet drugs), online ordering and meal kits, agriculture, food manufacturing […]
The Changing Direction of Industrial CRE
The future of industrial CRE is strong, but advancing in a new direction, according to a report from Newmark and NAIOP. CRE for advanced manufacturing is the wave of the future, while warehousing and distribution take a back seat, the report finds. It predicts new construction related to the high tech, automotive, energy and biomanufacturing […]