According to a new Colliers International South Florida report, vacancy rates held steady in Miami-Dade County and rose marginally in Broward and Palm Beach counties. CLICK ON THE HEADLINE FOR MORE
Once a niche play in the industrial sector, cold-storage warehouse space is on a growth track. The habits of U.S. consumers, who will order more food online in the coming years, is spurring the growth. A recent report by CBRE estimates there will be demand for as much as 100M SF of new cold-storage space
More than 3.4 million square feet of industrial and flex space is currently under construction in Miami-Dade County, and an additional 50 million square feet of industrial space will need to be constructed over the next five years to meet the region’s population growth, according to research from Colliers International South Florida.
Another example of investors and developers targeting Doral in recent years, investment partners plan to make capital improvements to the two-building, 35,560-square-foot Showplace at Doral and reposition it. CLICK ON THE HEADLINE FOR MORE
The market for industrial property has been booming nationwide, but especially in South Florida, where developable land exists only in a 20-mile-wide strip between the Everglades and the Atlantic Ocean. Experts speaking on a Bisnow panel last week marveled at the growth of the sector, but also warned of “black swans” — unpredictable events with major consequences.