Endless Opportunity Lies Within South Florida’s Ports - Commercial Observer (Miami: tenants, new construction)

[Orionsdolph]

Endless Opportunity Lies Within South Florida’s Ports - Commercial Observer




"The speed of delivery through Florida, lack of labor issues at port operations, and the state’s growing consumer demand will naturally elevate the state’s profile in strained logistic networks. As this trend continues, it will positively support industrial expansion and bodes well for Florida’s booming industrial market overall, which closed out 2021 with a 4.6 percent vacancy rate and 24 million square feet (MSF) of positive absorption of space taken by tenants."


"For markets along the coast with port facilities, another 13.3 MSF of inventory was added in 2021. Port Miami, the closest port to the Panama Canal and the first one in Florida to handle larger Post-Panamax ships (larger vessels with carrying capacities between 85,000 and 110,000 deadweight tonnage that are designed to fit through the Panama Canal), had 2.5 MSF of new construction deliveries in 2021 with many tenants drawn to the region’s strong connections to international markets. Port Everglades, part of Broward County and Port of Palm Beach, had a combined 3.5 MSF delivered. In addition, all three South Florida counties had 5.8 MSF under construction."


March 29, 2022
https://commercialobserver.com/2022/...ts-industrial/