Miller Construction is underway with the simultaneous build of three warehouse/distribution buildings totaling 415,460 square feet at Miami Axis Park, for developer Lincoln Property Company.
In half of the top 10 U.S. logistics warehousing markets, spec vacancy rates are around the national average of 4.4 percent while net asking rent growth is 7.8 percent annually, Those trends are what developers like to see. CLICK ON THE HEADLINE FOR MORE
Last year, Miami added nearly 10,000 jobs in logistics alone — more than double the number added in any previous year and almost half the number created across the state according to Transwestern’s most recent market reports. Miami’s industrial vacancy rate has been below 5% since 2015, and even with new product having come online,
Investors generally aren’t setting out to pursue OZ sites but consider it a bonus in the development potential along with a tax break. CLICK ON THE HEADLINE FOR MORE
The “Turnpike Transfer” development site south of the Florida Turnpike and the Interstate 75 intersection was acquired for $6.7 million. CLICK ON THE HEADLINE FOR MORE
