Pricing and cap rates for Class A industrial product are expected to stabilize for the remainder of this year, according to a new report from Cushman & Wakefield—though trophy properties in the Inland Empire of Southern California, New Jersey, South Florida, Seattle, and Dallas will reap the most aggressive overall rates. Spring 2021 data from
Bridge Development Partners (“BRIDGE”), a privately-owned development and acquisition firm of Class-A industrial properties, announced it has secured $78.24 million in financing to develop Bridge Point AVE at Miami-Opa Locka Executive Airport. The three-building, 589,887-square-foot industrial business park is more than 72 percent preleased and on schedule to be delivered in the third quarter of
A food company tied to Venezuelan Mauro Libi, who owns a food empire, bought a warehouse in Miami International Park for $7.8 million. Records show Eleo Group, managed by Libi, bought a 47,668-square-foot warehouse at 7300 Northwest 35th Terrace from Medley-based window blinds and shades manufacturer Vertilux.
Industrial didn’t miss a beat in 2020. And it looks like prices in the asset class will continue rising in terms of sales volume and price per square foot, according to CommercialEdge.
PortMiami, one of the top ports in the U.S., processed 113,835 Twenty-Foot Equivalent Units (TEUs) in January 2021, an increase of 21.02 percent from the 94,064 TEUs processed in January 2020, the most active month ever recorded. Between fiscal year to date, Oct. 1, 2020, through Jan. 31, 2021, PortMiami processed a total of 420,838