A wholesale grocery company bought a 122,000-square-foot industrial property in Hialeah for a record $11.6 million.
Thirty Six Ninety LLC sold the property at 3690 Northwest 62nd Street to Alfoncito Investments. The buyer is tied to Rex Discount wholesale grocery, which will occupy the building, according to a press release.
Once there are widespread vaccinations and people begin shopping in physical retail locations, will that make a dent in e-commerce sales and warehouse demand?
One analyst group says no. Continue reading
A former Miami golf course turned into an industrial park. A Hollywood warehouse chopped up into six smaller offerings. And a bidding war over industrial space in East Hialeah.
Commercial brokers recount these tales in South Florida, a market with high demand for warehouses but not enough industrial-zoned land for new development. Industrial experts must turn to creative problem solving, as a reluctance to visit brick-and-mortar stores has led to a boom in online shopping and a burgeoning need to store appliances, food and other goods. Continue reading