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.
There are emerging niches in the industrial real estate sector that are all primed as significant growth areas. The three most promising are outdoor storage, cold storage and facilities that support electric vehicles.
Telsa will occupy and modify a 5.3-acre lot at 9950 NW 25th St. that has a 78,000-square-foot building already in place. The land use is categorized as industrial commercial and the project is consistent with the city’s Comprehensive Plan and the land Development Code.
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.