The world’s largest industrial developer and landlord announced a spike in warehouse leasing activity following the U.S. November election, which has improved the company’s outlook for warehouse demand in 2025.
Completed in 2022, the 157,214-square-foot warehouse property is located within Beacon Lakes, a 640-acre industrial park also developed by Codina Partners. Prologis plans to redevelop the warehouse into a logistics facility.
San Francisco-based Prologis filed an administrative modification application with county officials for the 18.5-acre site at 9700 N.W. 112th Ave., in the Flagler Station business park near Doral.
To facilitate the airport’s growth, Miami-Dade County could purchase a warehouse that is located just east of MIA. The county has been actively buying property around the airport, including the purchase of an office building in August.
The 7.3% year-over-year increase is good news for landlords that have been coping with a supply surge, but the overall industrial market is still down from its record highs in 2022.