Accelerated rent growth nationwide in the industrial real estate sector might not be so much tied to inflation, but rather vacancy rates, according to a new report from Cushman & Wakefield.
A warehouse crush across the U.S. is squeezing out smaller companies as big retailers fill industrial storage sites with their growing stockpiles of inventory. Logistics and real-estate specialists say many large retailers are demanding extra room to store excess inventories, driving up costs for smaller companies and in some cases driving them out of spaces.
Chicago-based Bridge Industrial recently acquired a 6.19-acre warehouse property in Miami for $26.26 million. The property at 16175 N.W. 49th Ave. in Palmetto Lakes Industrial Park consists of two warehouses totaling 123,814 square feet and 200 parking spaces. The acquisition was financed by a loan provided by Chicago-based CIBC Bank USA.
The headquarters office of Ryder System in northwest Miami-Dade County could be demolished and replaced by warehouses. The logistics giant filed a pre-application with county officials for a new site plan covering its 16.8-acre property at 11690 N.W. 105th St., which currently has its 248,989-square-foot headquarters office. Chicago-based Bridge Industrial has the property under contract,
A controversial plan to build a sprawling warehouse distribution center outside Miami-Dade County’s urban development boundary remains in play after a divided county commission first voted to reject, then defer the project on Thursday, Sept. 22. The flip-flopping vote is the third time the request from developers to build on wetlands and farms increasingly vulnerable to flooding from
