Developers have scrapped a plan to create a new retail hub in Doral in the former PepsiCo bottling plant. Instead, the 1960’s Brutalist style theater and plant will become a warehouse.
Prologis plans to build the first multistory dedicated warehouse in South Florida to serve a last-mile e-commerce provider. Plans for the facility, in the Palmer Lake area on the east side of Miami International Airport, show how rapidly demand for industrial space has boomed in the region.
An affiliate of Blackstone Group purchased an industrial development site in Doral for $21 million. Kelly Tractor Co., a local family-owned business, sold the 8.36-acre site at the southwest corner of Northwest 66th Street and Northwest 97th Avenue to B9 NW 97th Avenue Owner LLC, an affiliate of New York-based Blackstone.
Industrial development giant Prologis acquired 28.45 acres near its Beacon Lakes Business Park in west Miami-Dade County. The company, through affiliate Prologis-Exchange Beacon Lakes 46 LLC, issued four deeds for a combined $22.7 million.
Investors can’t get enough of warehouses and logistics spaces these days, but there are some signs that a bubble could be forming. Asset management firms including Blackstone Group, Cerberus Capital Management and KKR have doubled down on logistics centers, and prices for warehouses have surged, Bloomberg News reported. According to real estate research firm Real Capital Analytics, values for industrial
