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.
According to a report from Colliers, as the existing current cold storage supply inventory is leased out and the demand for modern, multi-zoned, and convertible temperature-controlled facilities increases, speculative cold storage projects are expected to recover.