Hilco Redevelopment Partners (HRP), a unit of Hilco Global, just announced the purchase of an industrial development site located at 11002 Northwest S. River Drive in Medley.
The 8.5-acre property is part of a larger 25-acre Superfund site which has previously undergone corrective action. HRP has current plans to develop the site into a state-of-the-art warehouse/logistics facility to support the growing tenant demand across South Florida.
Terra and Terranova Corp. are planning to build a mixed-use commercial project on a nearly 24-acre site in Doral.
“The two developers are aiming to present their proposal for District 79, an industrial and retail development at 7777 Northwest 41st Street, to the commission by the summer,” a spokesperson for Terra said.
“The joint venture is planning for the future and betting on the area’s strong industrial market,”David Martin, co-founder and president of Terra said.
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.