With a proposal heading to the city council on April 16th for approval, the facility would span more than 5,000 square feet and feature seven courts for play. Padel continues to grow in popularity across South Florida, with new facilities opening throughout Miami-Dade, Broward, and Palm Beach counties.
According to a recent Prologis report, e-commerce still required three times the logistics space of in-store sales in 2024, and this share shift alone would produce 250 to 350 million square feet of U.S. logistics space demand over the next five years.
Driven by ongoing population growth, low costs, strategic infrastructure access, and a favorable business operation environment, industrial vacancy rates remain below pre-pandemic averages, and rental rates continue to rise in key markets in the Southeast U.S.
According to a report from Colliers, as the existing current cold storage supply inventory is leased out and the demand for modern, multi-zoned, and convertible temperature-controlled facilities increases, speculative cold storage projects are expected to recover.
Class B Industrial assets account for 53.5% of the total U.S. industrial inventory, or 10.7 billion square feet. Their appeal to attract a broad range of businesses has grown in the wake of declining vacancy rates and surging rental costs after 2021.