Global supply chain disruptions have sent industrial tenants into a leasing frenzy, pushing warehouse vacancy to unprecedented lows.
Prologis’ portfolio was 98 percent leased and just under 97 percent occupied at the end of the third quarter, the San Francisco-based warehouse REIT reported Friday. Moreover, its development pipeline was already 70 percent pre-leased — the firm’s highest pre-lease rate ever.
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Industrial rents continued to climb in the third quarter, as leasing soared in Miami-Dade and Broward counties, according to a recently released report.
Bridge Industrial has the largest undeveloped tract of land in Doral under contract and plans an industrial park there.
Bridge Industrial Acquisition, an affiliate of Chicago-based Bridge Industrial, formerly called Bridge Development Partners, filed a municipal pre-application with Miami-Dade County for the 175.2-acre site at the southwest corner of Northwest 107th Avenue and Northwest 41st Street. It has it under contract from longtime owners Claudia Lemon Cook and Charles B. Lemon in Winter Park.
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