The project would be one of the largest industrial developments in Miami-Dade. With vacant industrial land scarce in South Florida, developers are increasingly looking to repurpose man-made lakes despite the high cost.
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.
Panattoni Development Co. plans to demolish the existing structure and build two industrial buildings totaling 153,654 square feet, along with 171 parking spaces. The proposed buildings will each cover 76,827 square feet and feature a 36-foot clear height.