A vacant property in Hialeah is under contract to a developer who wants to rezone it for a distribution warehouse. The developer wants to change the land use to “industrial” to construct a 172,260-square-foot distribution warehouse.
More warehouse spaces are sitting empty in South Florida. The delivery of new construction combined with the pandemic are to blame. Vacancies rose from the first to second quarter in Miami-Dade and Broward, according to the latest Colliers International industrial reports.
The industrial sector is expected to weather the economic ramifications of the COVID-19 pandemic better than other areas of the economy, according to an Industrial Sector Outlook report by Colliers.
The appetite for industrial real estate is strong in the Miami Airport West submarket due to a scarce supply of land for development and the increased demand of industrial assets. CLICK ON THE HEADLINE FOR MORE