South Florida’s industrial properties remain a valuable commodity for landlords and real estate investors as vacancies hover near record lows and rents continue to rise, developers and brokers say. However, with more warehouses being built and businesses less desperate for storage space, the wild days of annual double-digit rent hikes are long gone.
The proposed fiscal budget for the City of Doral calls for significant investments in public safety, infrastructure, transportation, parks and recreation, and technology wth the aim to providing a better quality of life to residents.
Codina Partners and Affinius Capital have fully leased the industrial campus with power tools company Makita Latin America taking 92,300 square feet and All Glass Production taking 232,600 square feet.
Doral is moving forward with a six-month pause in development applications in response to the state’s passage of the Live Local Act, which gives residential developers extra building rights on land zoned commercial, industrial, or mixed-use if at least 40% of a project’s units are set aside for workforce or affordable housing.
As Doral braces for future high density projects under the state’s Live Local Act, the City may approve a six-month pause on new development applications. During that period, city officials will review and enact possible changes to the city’s comprehensive plan and zoning regulations.