The 82,261-square-foot coolered facility, situated on a 3.34-acre lot east of Milam Dairy Road, was acquired by Iconic Equities, LLC, a Miami-based real estate investment firm specializing in Industrial Outdoor Storage (IOS) and industrial development.
The world’s largest industrial developer and landlord announced a spike in warehouse leasing activity following the U.S. November election, which has improved the company’s outlook for warehouse demand in 2025.
PortMiami just successfully managed a record 13 ships on a single day as it simultaneously hosted 10 cruise ships and three cargo vessels for the first time. This historic record is setting the stage for even greater ship traffic in the future.
The industrial sector led the way in investment sales, contributing $22.8 billion in the fourth quarter, a 31% increase from the prior quarter. Looking ahead to 2025, investors are expected to continue favoring industrial and e-commerce assets.
The Yardi-owned company forecasts that a significant rise in new construction in 2025 is unlikely and that the focus in the industrial sector will largely be on developing data centers and manufacturing facilities, as demand for these spaces persists.