Cold storage, a niche subsector of the industrial real estate market, is heating up.
Driven by — what else — e-commerce and the pandemic, the cold-storage market was valued at $89 billion in 2018 and is projected to reach $218 billion by 2026, growing at a compound annual rate of 11.7% between 2019 to 2026, according to research by commercial real estate firm Avison Young USA Inc.
The Easton Group has joint ventured with Irvine, California-based LBA Logistics to acquire a 105,365 square-foot warehouse in Doral for $19.5 million.
The transaction closed August 27.
Miami-Dade County’s new political landscape faces a familiar controversy in the coming weeks: whether to “hold the line” on urban expansion or allow millions of square feet of new development to take over existing farmland.
A push by developers to expand Miami-Dade’s Urban Development Boundary for a project near the Homestead Air Reserve Base is making its way to a county commission where six of the 13 members are newcomers. Continue reading