Miami Dade announces plans to build airport cargo facility.
Miami’s major airport is getting an upgrade with a new building 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-story cargo facility that would increase Miami International Airport’s storage capacity by 2 million tons, bringing its total capacity to […]
Prologis Raises Outlook in Bet on Warehouse, Data Center Demand.
Prologis, the world’s largest warehouse owner, raised its financial outlook for the year as a surge of leasing activity in the second quarter served as a promising industry sign that warehouse demand is starting to pick up again. The San Francisco-based real estate investment trust reported 52 million square feet in leasing volume in the quarter, up […]
County approves $400 million expansion project at Miami airport.
The Miami-Dade County Commission unanimously approved a 40-year lease that will allow a developer to build a $400 million cargo hub at Miami International Airport. Under the agreement passed by county commissioners on July 16, Miami Gateway Partners LLC will lease 11.2 acres of land at 1701 N.W. 63rd Ave. where the company will build […]
Small Bay Industrial Properties See Healthy Leasing and Limited Supply in South Florida.
While the large warehouse segment of the industrial market continues to grapple with the effects of a rise in supply and moderating demand, small bay industrial space remains in short supply, specifically in South Florida. Larger industrial properties, with more than 50,000 square feet, have seen their vacancy rates climb from lows of 3% in […]
Developers obtain $26 million construction loan for Hialeah warehouse
East Capital Partners and ViletCo Enterprises obtained a $26 million construction loan for a spec warehouse in Hialeah. First Bank Puerto Rico, doing business as FirstBank Florida, provided the mortgage to co-developers WGC 97th Property LLC, managed by Drew T. DeWitt, co-founder of Darien, Connecticut-based East Capital Partners, and NV Toro Owner, managed by Klaas […]
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 neighborhood 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, a glycol system, 37 dock-height doors, two ramps, 35-foot clear ceilings, […]
Amazon Signs Another Big Warehouse Lease in Southern California
The king of e-commerce has expanded again with another warehouse lease over 1 million square feet in Southern California. The property spans over 60 acres at 3945 Lytle Creek Road in Fontana, Calif., according to leasing marketing materials. The site is just off the Sierra Avenue exit on Interstate 15, about 12 miles northwest of Downtown San Bernardino. […]
Foundry breaks ground on warehouse at airport with $30M loan
Foundry Commercial broke ground on a warehouse at Miami-Opa locka Executive Airport thanks to a $30.1 million construction loan. Regions Bank provided the leasehold mortgage to Foundry Meek IV LLC, an affiliate of Orlando-based Foundry Commercial, in partnership with the nonprofit Carrie Meek Foundation and Clarion Partners. It covers 20.3 acres that the developer leases […]
Blackstone plans 128,000-square-foot warehouse in Miami-Dade
Link Logistics, the industrial arm of investment giant Blackstone, has proposed a warehouse near Miami Springs and Medley. The New York-based developer filed a pre-application with Miami-Dade County officials concerning the 6.35-acre site at 7320 N.W. 61st Street. Blackstone affiliate B10 NW 74th Ave Owner LLC acquired the property, formerly a vehicle storage and propane sales […]
Industrial Big Box Leasing Is On a Tear
2024 could be the third-highest year for industrial big-box leasing, CBRE projects. Even though a spate of new construction in 2023 brought a record 413 million SF to market, it expects that abundant supply to be short-lived. “Investor sentiment has significantly improved from last year as industrial operating fundamentals remain solid and the credit market […]
