PortMiami, which was dredged to 50 feet last year in anticipation of a widened Panama Canal, can now welcome up to six Post-Panamax vessels a week, which has translated into an uptick in the port’s cargo business side of operations.
South Florida’s industrial market has seen over 33 million square feet of net absorption since the end of the recession.
Following 2015’s record-setting year of 6.9 million square feet of absorption, 2016 logged another 4.7 million square feet for a combined total of 11.6 million square feet of positive net absorption within the past two years. This year’s deal activity is set up to continue this robust movement of growth.
Seafrigo, a global logistics company, is expanding their logistics services into the South Florida market, just-in-time for the new Panama Canal.
Seafrigo is headquartered in France and specializes in the food logistics industry. This Miami warehouse will be their third regional facility within the United States. One of the significant reasons that Seafrigo selected Miami for their next expansion was due to the opening of the new Panama Canal on June 26th.