First Industrial Realty Trust and Butters Construction & Development broke ground Thursday, December 3, on First Park Miami, First Industrial’s newest industrial development.
Raj Prakash was in Miami for the launch party of a friend’s reality show in March when the start Covid-19 pandemic fueled his decision to not to return to New Jersey. Not only has he stayed in town, his company has created 87 jobs in the region this year.
Joint venture partners Bridge Development Partners, one of South Florida’s most active industrial real estate developers, and PGIM Real Estate, the global real estate investment and financing business of Prudential Financial, Inc., announced it has secured $67 million in financing to develop Bridge Point Cold Logistics Center, a 312,103-square-foot speculative cold storage facility in Hialeah.
Amid this prolonged uncertainty, everyone agrees that the pandemic’s impacts are yet to be fully seen. Nine months in, the health crisis is about to trigger a global economic crisis, and real estate sectors are reacting differently—some trends, that were already underway, are accentuated, while others are disrupted completely from their original course. One of
Right now, there are nearly 400 vaccines for Covid-19 in development. When some of those are approved for widespread use, they’ll need to be stored and distributed from temperature-controlled spaces. Companies are already lining up giant cold storage facilities, also known as freezer farms, to securely store millions of vials of a vaccine, according to
