Industrial real-estate developers have been stepping up building cold-storage warehouses in the U.S. without tenants lined up for the space, betting that pandemic-driven changes in the way consumers buy groceries and meals are here to stay. Nearly 3.3 million square feet of refrigerated warehouse space was under construction through the second quarter of this year
Industrial real estate has been the one of the most sought-after property types nationally, leading to record low vacancies and increased competition among investors and tenants. When it comes to selecting a market for industrial investment, port markets are emerging as the safe bet for investors to park capital due to the positive rental growth
Miami’s industrial market, which includes all of Miami-Dade County, is the nation’s top performer for annual rent growth, according to a JLL report. Year-over-year, the Miami industrial market experienced a 53 percent jump in rent, more than Los Angeles, which had the second highest rent hike at 45 percent, and New York/New Jersey, which had
Renters of industrial properties are facing sticker shock in the current inflationary environment, with national effective rent growth expected to increase nearly 23% year over year in 2022. “Although industrial has a reputation for shorter lease terms, the reality is that the weighted average lease term for industrial is around five to seven years, much
Ares Management made a $62 million double play in South Florida’s industrial market, picking up a pair of Hialeah warehouses under construction. An affiliate of the Los Angeles-based global alternative investment manager paid $37 million for a 9.6-acre site at 410 West 104th Street, and $25 million for an adjacent 10.2-acre parcel, according to records.