The national industrial vacancy rate has climbed by 30 basis points during the third quarter to reach 6.4%, according to Cushman & Wakefield’s latest industrial segment research.
Centrum Doral Owner LLC, an affiliate of Miami-based Banyan Street Capital, will go before the City Council, seeking to amend the master development plan for the Doral Gateway site.
Terreno announced that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 39 that is 100% leased to one tenant. At expected completion in 2027, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet.
The 7.3% year-over-year increase is good news for landlords that have been coping with a supply surge, but the overall industrial market is still down from its record highs in 2022.