Metrobloks plans to develop a 15.2 MW state-of-the-art data center facility at the site, which is strategically located at the intersection of NW 6th Street and 137th Avenue. The new AI-ready, multi-tenant facility is designed to meet high-density computing demands and is scheduled to commence operations by the end of 2026.
According to a recent Prologis report, e-commerce still required three times the logistics space of in-store sales in 2024, and this share shift alone would produce 250 to 350 million square feet of U.S. logistics space demand over the next five years.
Codina sold the 200,600-square-foot warehouse located within Beacon Logistics Park in Hialeah to a real estate entity linked to the Church of Jesus Christ of Latter-day Saints.
The transaction equates to $196 per square foot.
Driven by ongoing population growth, low costs, strategic infrastructure access, and a favorable business operation environment, industrial vacancy rates remain below pre-pandemic averages, and rental rates continue to rise in key markets in the Southeast U.S.