ECU Worldwide’s lease renewal with landlord Realterm and institutional investors advised by J.P. Morgan Asset Management at 2401 NW 69th Street in Miami signals the resiliency of the South Florida industrial market.
Top South Florida industrial real estate investors believe the positive momentum the market enjoyed in 2018 will continue this year, thanks to strong demand, e-commerce and other factors.
Ask any industrial broker about the most important feature to industrial tenants looking for a new facility and they’ll say “location.”
After that, it’s probably going to be clear height, with at least 32 feet, but preferably 36 or 40 feet, especially for large users (those taking 500 to 1,000 sq. ft. or more).
But according to Blaine Kelley, Atlanta-based senior vice president of the global supply chain practice with real estate services firm CBRE, tenants will trade off all other physical features for proximity to customers, labor and suppliers.