According to a new Colliers International South Florida report, vacancy rates held steady in Miami-Dade County and rose marginally in Broward and Palm Beach counties. CLICK ON THE HEADLINE FOR MORE
Americas Commercial Real Estate, along with Newmark Knight Frank (NKF), brokered a renewal and expansion lease totaling 177,000 square feet with AAR, a leading provider of aviation services to commercial airlines and governments worldwide, for its Landing Gear Services (LGS) business at Medley Commerce Center in Medley.
Once a niche play in the industrial sector, cold-storage warehouse space is on a growth track. The habits of U.S. consumers, who will order more food online in the coming years, is spurring the growth. A recent report by CBRE estimates there will be demand for as much as 100M SF of new cold-storage space
More than 3.4 million square feet of industrial and flex space is currently under construction in Miami-Dade County, and an additional 50 million square feet of industrial space will need to be constructed over the next five years to meet the region’s population growth, according to research from Colliers International South Florida.
Blackstone affiliate bought two industrial vacant lots in Medley for $7.2 million. Link Industrial Properties, an affiliate of Blackstone, bought the 8.8-acre site for $818,181 per acre. The seller is Medley Auto Parts.
