An Austrian company that specializes in catering for airlines, sporting events, festivals and private parties has leased 209,600 square feet of warehouse space near Miami International Airport. Vienna-based DO&CO will move into the circa-1969 space at 3401 N.W. 72nd Ave. on Jan.1, said Ricardo Du Pond, a tenant representative broker with Fortune International Realty.
Need a warehouse? Get in line—one that keeps growing longer. Getting enough industrial space built has become a big problem and looks like it will continue to be one.
Industrial real-estate developers have been stepping up building cold-storage warehouses in the U.S. without tenants lined up for the space, betting that pandemic-driven changes in the way consumers buy groceries and meals are here to stay. Nearly 3.3 million square feet of refrigerated warehouse space was under construction through the second quarter of this year
Industrial real estate has been the one of the most sought-after property types nationally, leading to record low vacancies and increased competition among investors and tenants. When it comes to selecting a market for industrial investment, port markets are emerging as the safe bet for investors to park capital due to the positive rental growth
Miami’s industrial market, which includes all of Miami-Dade County, is the nation’s top performer for annual rent growth, according to a JLL report. Year-over-year, the Miami industrial market experienced a 53 percent jump in rent, more than Los Angeles, which had the second highest rent hike at 45 percent, and New York/New Jersey, which had