Need a warehouse? Get in line—one that keeps growing longer. Getting enough industrial space built has become a big problem and looks like it will continue to be one.
While Miami’s office market fuels excitement with new, high-profile Wall Street and Silicon Valley tenants, it’s the region’s industrial market that remains strongest. “Miami saw its strongest quarterly performance since the start of the recovery from the Great Recession,” a Newmark report noted.
Newmark announces a new 47,175-square-foot lease for Nuage Designs at Eastview Commerce Center (ECC) in Miami. Newmark’s Executive Managing Directors Steve Medwin and Nick Wigoda and Associate John Mejia represented the landlord, Panattoni Development, and the tenant in the transaction.
Badia Spices bought a warehouse in Sweetwater for $44 million. The spices and herbs manufacturer paid about $141 a square foot for the 313,000-square-foot building at 2200 Northwest 112th Avenue in Dolphin Commerce Park, according to a press release.
