Even though the industrial sector in many parts of the country is one of the healthier components of the CRE ecosystem, some fear signs of softening. Developers in Miami-Dade, however, appear to have no such concerns.
The first quarter findings show the South Florida industrial market remains on a stable trajectory, as demand continues to outpace supply. Companies keep wanting to take industrial space. Population growth and other factors all seem to be pointing in a positive direction.
Miami’s industrial market, which includes all of Miami-Dade County, is the nation’s top performer for annual rent growth, according to a JLL report. Year-over-year, the Miami industrial market experienced a 53 percent jump in rent, more than Los Angeles, which had the second highest rent hike at 45 percent, and New York/New Jersey, which had
Alpine Fresh has proposed a cold storage facility for produce in Sweetwater. The facility would total 77,000 square feet, with 10,035 square feet of office space on the second floor and the rest of the space dedicated to cold storage. There would be 102 parking spaces and a dozen loading spaces for tractor trailers.
Pricing for industrial distribution and warehouse space climbed in many US markets during the past 12 months, as investors continued to focus on markets tied to large population centers, logistics and e-commerce space.