The new hot property in Miami? Warehouse demand hits an all-time high — and here’s why
Miami-Dade County’s warehouses are going as fast as croquetas and cafecito on a cold day. Tenants — picture e-commerce, importers, fruit and beverage companies — are having a hard time finding storage space in Miami-Dade to rent with the 1.6% vacancy rate an all-time low, according to the JLL fourth quarter 2023 Miami Industrial report […]
The Fed Declares Interest Rates Have Reached Their Peak
Federal Reserve Chairman Jerome Powell declared the end of the current monetary tightening cycle on Wednesday as policymakers decided to hold interest rates steady. “The policy rate is at its peak in this tightening cycle,” Powell told reporters after the Fed’s policy-making committee’s first meeting of the year. The decision left the Fed’s overnight lending […]
Prologis Expects To Buy, Sell More Industrial Property This Year
Executives at the world’s largest industrial developer and landlord expect to ramp up property sales and acquisitions this year as they bet that almost all its warehouse properties will remain leased and rents will keep rising in the face of economic uncertainty. Prologis anticipates raising $800 million to $1.2 billion from selling properties in 2024 […]
Fed Presses Pause on Interest Rates Once Again to Close Out 2023
The Federal Reserve held short-term interest rates steady to close its 2023 calendar in a move that positions commercial real estate for a potential rebound in transaction volume next year, according to analysts. The central bank kept its benchmark interest rate unchanged at between 5.25 percent and 5.5 percent for a third straight meeting after bringing rates […]
Developers Looking to Infinity and Beyond to Create Commercial Opportunities in Fla.
Florida’s Space Coast will be the home to three warehouses with more than 600,000 square feet for the aerospace industry. The Texas-based Hines real estate investment firm is partnering with local developer Key Group on a $500 million industrial park near Florida’s Cape Canaveral, aiming to cash in on the booming aerospace industry. The real-estate […]
Fed Holds Rates Steady but Suggests One in Future
It’s the second no-interest-rate-change decision over the past three meetings. Inflation is still above 2%, however, and the Fed says a future increase is still likely. WASHINGTON (AP) – The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight […]
Interest Rate Hikes Temper US Industrial Madness: Report
The once-crazed national industrial real estate market is taking a “collective deep breath” and calming down, new data shows. The Federal Reserve’s interest rate hikes the past 18 months have significantly slowed the pace of new construction, normalized the level of investment sales, and tamed leasing activity in the United States, according to the latest […]
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, […]