A botched $11M land deal will cost the city of Doral nearly double the price six years later. Elected officials approved settlement to pay property owner $21M for using vacant site as a staging area before completing the purchase.
Class B Industrial assets account for 53.5% of the total U.S. industrial inventory, or 10.7 billion square feet. Their appeal to attract a broad range of businesses has grown in the wake of declining vacancy rates and surging rental costs after 2021.
Panattoni Development Co. plans to demolish the existing structure and build two industrial buildings totaling 153,654 square feet, along with 171 parking spaces. The proposed buildings will each cover 76,827 square feet and feature a 36-foot clear height.
President Trump emphasized that there was “no room left for Mexico or for Canada” to avert the new tariffs, fueling concerns about a potential North American trade war that could ripple across various industries. The tariffs are primarily aimed at pressuring the U.S.’s neighbors to curb fentanyl trafficking into the country.
Industrial space rents across the U.S. have shown an upward trend at the start of the year. However, the sector faces challenges that are posing a threat to the bright spot in commercial real estate.