The coronavirus pandemic has the potential to reshape the cold storage warehouse submarket, driving demand up, spurring development of cold storage infill space and inspiring further consolidation in the sector, according to a new report by CBRE.
The coronavirus pandemic has shaken and rearranged trade and supply chains in Miami-Dade County, home to PortMiami and Miami International Airport, global hubs for international trade. It has also pushed the country into an economic downturn, causing a collapse in demand for many products. But this enormous trade system — which includes importers, exporters, logistics firms, freight forwarders, warehouses, customs brokers, transporters and others — continues to function even as it deals with shortages of merchandise, demand spikes, business closings, import delays, sick employees, and the need to reduce personnel.
Warehouse developers and property managers see a storm brewing for the South Florida industrial market in the weeks ahead.