Artificial intelligence is expected to drive demand for data centers and is giving the world’s largest industrial property company tremendous confidence in future growth. Every time a warehouse is converted to a data center, Prologis pick up $500 a foot of value.
The flood of warehouse space in Miami has been met by steady demand for new facilities fueled by positive demographic growth and robust port activity, long-term trends that bode well for future growth.
Located in America’s Gateway Park, not far from Miami International Airport, the warehouse last sold for $4.8 million in 2015, so it more than tripled in value.
This warehouse is the fifth building in Beacon Logistics Park that Southeast Commercial has purchased from Codina Partners. In December, it purchased four warehouses from the company,
Over the past 4 years, 100 million square feet of small-bay industrial space has been added to the market, according to Newmark’s first-quarter U.S. Industrial Market Conditions and Trends report. The small bay segment is increasingly attractive to investors because it provides diversification in tenancy and therefore cash flow, as well as greater tenant management and fewer credit tenants.