The decision marks the latest chapter in the controversial proposal for the 5.9 million-square-foot South Dade Logistics and Technology District on the southeast corner of the Florida Turnpike and Southwest 122nd Avenue in an unincorporated area of southeast Miami-Dade.
The CoStar Group, pinpoints mid-2025 as when US industrial net absorption will pick up notably. Some tenants will seek to take advantage of a softer rental market to expand their footprint this year.
The Class A warehouse in Medley is situated near major highways with easy access to Miami International Airport and Port of Miami, the region’s busiest import-export centers.
With shipping and freight insurance costs rising significantly, US manufacturers are pivoting to be more local. This has the potential to profoundly impact all types of CRE in markets all over the country.
According to Newmark’s National Industrial Market Conditions and Trends Report, there will be continued resilience but on a muted scale for industrial assets in 2024. Unpredictability in the global supply chain will drive long-term demand for industrial space due to the need for diversified sourcing and ports of entry,