A new report by Colliers says the industrial market will, in short, remain in landlord’s territory, Prologis agrees by recently saying the competition for industrial space will increase in 2024.
Anticipated to be completed in June 2024, this new roadway will significantly improve accessibility across the city and provide direct access to Bridge Industrial’s newest state-of-the-art South Florida logistics park: Bridge Point Doral.
Considered one of the most sought-after areas in Miami-Dade County, Doral’s commercial and industrial real estate remains strong due to its proximity to Miami International Airport, The whole city is enjoying about 95% commercial real estate occupancy for the second quarter of the year, with some space asking rates at $55 to $65 per square foot.
A new method developed by NAIOP of ranking industrial markets in both sales volume and volatility claims to offer new insight into risks that may help investors and developers create better strategies around market entry and exit.
Despite headwinds, this soaring niche continues to attract an increasing number of investors. Industry experts expect substantial growth to continue, driven by increasing demand and need for temperature-controlled storage and transportation of food, pharmaceuticals and chemicals.