Planet Cellular paid $4,400,000 for a ±30,000-square-foot office/warehouse facility located at 8788 NW 15 Street in Doral.
Before the pandemic, industrial properties were a more of a snack than a main course among real estate’s primary food groups, but investors’ voracious appetite for the sector may result in it occupying a larger place in their portfolios.
The growth in the cold storage sector of industrial real estate over the past 12 months has been simply staggering.
Average rent for U.S. cold storage space increased about 15% from the first quarter through the end of last year, CoStar Group reports. Since 2017, rent in the sector has grown by 29%, easily outpacing the still-impressive 21% growth in industrial properties overall over that time period.