Trade between Latin American countries and the United States is shaping South Florida’s industrial market.
The amount of exports and imports traded increased by 9.1% year-over-year in 2018 up to 2.4 million tons, according the 2019 South Florida Industrial Market Outlook report by Houston-based commercial real estate firm Transwestern. Continue reading
Terra and Terranova Corp. are planning to build a mixed-use commercial project on a nearly 24-acre site in Doral.
“The two developers are aiming to present their proposal for District 79, an industrial and retail development at 7777 Northwest 41st Street, to the commission by the summer,” a spokesperson for Terra said.
“The joint venture is planning for the future and betting on the area’s strong industrial market,”David Martin, co-founder and president of Terra said.
Despite leading economists’ forecast of a coming real estate slowdown, the demand for industrial space remains strong.
Competition is fierce as investors seek to capitalize on the growth of online retail and the resulting demand for “last mile” distribution centers, snapping up the dwindling supply of industrial properties, while others get creative with adaptive reuse projects.
However, industrial acquisitions, and distribution centers, present a specific set of challenges. Proper site selection and due diligence can go a long way towards protecting your investment.