Refrigerated Space Still Performing
Cold space is the hottest industrial property type in South Florida, ComReal VP Ed Redlich tells us. Refrigerated warehouse space is very tight in Miami because of high demand from distributors of flowers, produce, and other foods, much of which is being imported from Latin America at an increasing pace, Ed tells us. For instance, over 90% of fresh cut flowers entering the US are flown into MIA—with flower sales up since the end of the recession—and the tonnage of perishables shipped through Port Miami is increasing each year, he notes. Inventory hasn’t kept up.
Recently ComReal brokered the lease of 64k SF of refrigerated warehouse space at 1351 NW 78th Ave in Doral, just west of MIA, to Miami-Dade County, which plans to use the property for the distribution of perishables for its Corrections Dept. Landlord Maya Plantation is in the process of upgrading the building, especially adding the mechanisms that keep cold space cold, such as a new backup generator. Next week, Ed’s going to be part of a delegation to Peru for Expoalimentaria, the largest food expo in South America. “We expect more produce to be imported from Peru to Miami,” he tells us.