According to Green Street’s latest industrial sector update, the eport authors point to cold storage demand, rising NOI forecasts and cash-releasing spreads — especially at Prologis — and Houston and East Coast port activity.
Even though the industrial sector in many parts of the country is one of the healthier components of the CRE ecosystem, some fear signs of softening. Developers in Miami-Dade, however, appear to have no such concerns.
Although demand for industrial space remains strong, rising interest rates and a looming recession has offered some prospective tenants more room to negotiate. Uncertainty about the overall economy is making credit even more important to landlords, and tenants with strong credit will have increased negotiating power – within reason.
The San Francisco-based REIT reported 98% occupancy in its massive global portfolio in the first three months of the year — a slight increase from the same time in 2022 — as e-commerce spending picked up and helped drive leasing of warehouses.
A logistics company with warehouse and distribution centers across the globe has closed on a leasing deal for an industrial building in Hialeah that has not yet been built. Erie, Pennsylvania-based Logistics Plus will occupy an entire 181,051-square-foot warehouse at 9535 N.W. 174th St. within Miami Midway Park. The 42-acre industrial project is now being