A vacant property in Hialeah is under contract to a developer who wants to rezone it for a distribution warehouse.
The developer wants to change the land use to “industrial” to construct a 172,260-square-foot distribution warehouse.
WGC 97th Property LLC, managed by Drew T. DeWitt of Westport Connecticut, has the property under contract from the Marilyn A. Lauderdale Trust and the Lauderdale Family Trust, from Hialeah and Davie, respectively.
It’s located in the Hialeah Heights area, between Interstate 75 and Florida’s Turnpike. It’s also south of where the American Dream Miami mega mall is planned. Miami-based attorney Brian Adler, who represents the applicant, couldn’t be reached for comment.
Developers have been aggressive in launching industrial projects in Miami-Dade County due to rising occupancy rates and rents. According to the fourth quarter report from Colliers International, the occupancy rate for industrial in Miami-Dade fell to 2.6%, from 4.2% a year earlier.
The average asking rent increased to $10.98 a square feet, from $9.72 a square foot. There was 3.87 million square feet of industrial under construction compared to the 6.84 million square feet of space absorbed by the market in 2021.