After two years of dominance by Inland Empire, Calif., Miami took the top spot for the highest industrial rent growth with an 11.9% year-over-year increase.
Adding a Miami-area warehouse gives Tatuaje the opportunity to fulfill orders and optimize shipping costs and times for its retailers. The facility is just for Tatuaje products now but the company is considering shipping brands outside this portfolio in the future.
Amid a surge in industrial development in northern Miami-Dade County, East Capital Partners broke ground on a spec warehouse at 16300 N.W. 97th Ave in Hialeah. The developer acquired the mostly vacant property for $12.95 million in 2022 after filing for rezoning earlier that year.
The 85,138-square-foot industrial complex with eight narrow buildings near Medley sold for $17.5 million. The property last traded for $2.97 million in 2009.
When it comes to the Doral’s commercial market, it has certainly experienced significant growth and development over the past several years. The main driver for that has been the access to highways to Miami International Airport, as well as access to Port of Miami making it an ideal hub when it comes to business.