It is expected the US will see a ‘meaningful’ downturn within the next 12 to 18 months. Consequently, a decline in the rate of warehouse construction is forecasted in the coming months. A significant decrease is expected in 2H 2023 and 1H 2024.
The temporary downturn will slow the rise in warehouse rates, but won’t send them into decline, as has happened in transport modes, according to analysts. They project the vacancy rate to creep up to 6% by the end of 2024, still tight by historical standards, and it should keep pushing pricing higher. CLICK ON THE HEADLINE FOR MORE
Terreno Realty Corp. intends to further expand at Countyline Corporate Park, a 620-acre master-planned industrial campus developed by Florida East Coast Industries in Hialeah. According to a Securities and Exchange Commission Filing from February 9, Terreno plans to pay $173.6 million for a 121-acre site within the Hialeah industrial park where a 2.2 million-square-foot campus is envisioned.
The nine-acre truck depot in Kearny, New Jersey, wouldn’t appear to fit anyone’s definition of prime real estate. The site is surrounded by a tangle of major highways that are often clogged with traffic, abuts a rail yard packed with clattering freight cars, and is just down the street from one of the most polluted landfills on the
The headquarters office of Ryder System in northwest Miami-Dade County could be demolished and replaced by warehouses. The logistics giant filed a pre-application with county officials for a new site plan covering its 16.8-acre property at 11690 N.W. 105th St., which currently has its 248,989-square-foot headquarters office. Chicago-based Bridge Industrial has the property under contract,