A former Miami golf course turned into an industrial park. A Hollywood warehouse chopped up into six smaller offerings. And a bidding war over industrial space in East Hialeah. Commercial brokers recount these tales in South Florida, a market with high demand for warehouses but not enough industrial-zoned land for new development. Industrial experts must turn to
South Florida’s industrial real estate market’s second quarter proved to be its strongest period in three years, according to a recently released report from Newmark Knight Frank.
Warehouses in South Florida sold for less this year than in 2018, according to a recent study. But the price per square foot in Miami-Dade was up, indicating a healthy market, say experts. The average sale price for industrial spaces in Miami-Dade, Broward and Palm Beach dipped from $1.9 million in 2018 to $1.6 million
Foundry Commercial, the multi-market commercial real estate firm with offices across the Southeast and Texas, recently closed on the purchase of the Midpoint Miami Logistics Park, an 18-acre site in Hialeah Gardens approximately 10 miles north of the Miami International Airport.
