New Warehouse Under Construction in Beacon Lakes
The ComReal Miami Industrial Team is pleased to present this report on new construction of industrial warehouses in Miami. Below you will find our report on nine (9) new, speculative construction projects for industrial warehouses in Miami-Dade County. At the time of this report, there is 1,270,000 sq. ft. of newly-completed and/or nearly-completed warehouse buildings in 2012. Please note that there is only one large industrial warehouse that is a custom, built-to-suit construction in Miami. This is the Centurion Air Cargo warehouse of +/- 800,000 sq. ft. It is located directly on Miami International Airport property. Since it is a non-speculative development it is not included in the comparison chart below. All of the other projects are being developed purely on a speculative basis. For more information, visit the Centurion Air Cargo warehouse in Miami. >>>
The only other project worth mentioning is Flightway West located in Airport West Dade at 13431 NW 19th Lane. The project consists of 24 units of 5,030 sq. ft. each totaling about 120,000 sq. ft. The units have 3 dock doors each; about 900 sq. ft. office space with overhead mezzanine. This development was also not included since it is designed for small bay users. As our team predicted in our prior newsletters, several opportunistic investors had acquired vacant land in 2011 when market pricing seemed to be at the bottom. Afterward the speculative construction commenced which had been almost non-existent for the prior four years. For a copy of the complete report which includes floor plans, site plans, a more in-depth comparison chart and brochures with more details, please contact us anytime. Thank you very much.
Completed and/or Nearly-Completed Warehouses:
| Property Name | Beacon Lakes Building |
Miami Int’l. Distribution Center | DCT Commerce Center | Flagler Station Building | Pan American North Business Park | Vivo & Fonte Warehouse |
| Map # | 1 | 2 | 3 | 5 | 6 | 7 |
| Address | 12650 NW 25th ST | 1900 NW 132nd PL | 1801 NW 135th AV | 100XX NW 112th AV | 10733 NW 123rd ST | 11800 NW 101st RD |
| Sub-Market | West Dade | West Dade | West Dade | Medley | Medley | Medley |
| Developer | Prologis | KTR | DCT | Flagler | Industrial Income Trust | Vivo & Fonte |
| Total Size (Sq. Ft.) |
189,906 | 335,841 | 334,000 | 171,668 | 185,520 | 52,524 |
| Asking Gross Lease Rate PSF | $9.25 | $9.50 | $9.25 | $8.50 | TBD | $8.75 |
| Column Spacing | 54′ x 41′ | 54′ x 50′ | 40′ x 40′ | 40′ x 40′ | 51′ x 53′ | 45′ x 45′ |
| Ceiling Height | 30′ | 36′ | 28′ | 30′ | 30′ | 24′ – 28′ |
| Expected Completion Date | 2Q 2012 | 1Q 2013 | 2Q 2012 | 1Q 2013 | 1Q 2013 | 4Q 2012 |
Warehouse Buildings in the Planning Stages:
| Property Name | South Florida Logistics Center | Miami Int’l. TradePort | Miami International Logistics Center |
| Map # | 4 | 8 | 9 |
| Address | NW 36 Street & 67 AV | NW 121 Way and Florida Turnpike | 725 SE 9 Court |
| Sub- Market | West Dade | Medley | Hialeah |
| Developer | Flagler | Liberty Property Trust | Keating Resources |
| Total Size Sq. Ft. |
1,455,000 | 1,800,000 | 400,000 |
| Asking Gross Lease Rate PSF | TBD | $8.25 | $8.50 |
| Column Spacing | TBD | 50′ x 54′ | 50′ x 50′ |
| Ceiling Height | TBD | 30′ | 40′ |
| Expected Completion Date | 2013-2014 | 3Q 2013 | 2Q 2014 |
For more information on the Miami International Logistics Center warehouse, please click here for PROPERTY BROCHURE. >>>