The Teacher Retirement System of Texas has already pledged $225 million toward the fund. The strategy will focus on acquiring logistics assets in primary, gateway, and select secondary markets where supply is limited and current in-place rents are below market rates.
The sale reflects a broader trend in suburban Miami-Dade, where aging office properties are increasingly being converted into industrial use.
Most net-lease tenants fall into the mildly to moderately affected categories, which bodes well for single-tenant property owners.
The recipients were selected as winners of MDIA’s third Public Innovation Challenge. These companies will deploy cutting-edge solutions involving artificial intelligence, computer vision, and data analytics to improve cargo tracking, terminal efficiency, and traffic flow at the port.
With city officials calling the park the most transformative public space in the city’s history, the multimillion-dollar project is considered a centerpiece for the community that will offer a wide range of outdoor and recreational amenities.