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.
On its recent fourth-quarter earnings call, management from logistics real estate giant Prologis Inc. said strong demand from the second half of 2020 has continued into the new year. “We entered 2021 with optimism and confidence,” commented CFO Tom Olinger.
Once there are widespread vaccinations and people begin shopping in physical retail locations, will that make a dent in e-commerce sales and warehouse demand? One analyst group says no.
Labrador Construction acquired a warehouse in Doral for $15 million. The price equated to $243 per square foot. It last traded for $9 million in 2015. The increase in value demonstrates the strong demand for industrial space in Miami-Dade County.
