Prologis Tapping Stiles Corp For Major Retail As Industrial Park Complement
One of the world's largest warehouse developers is turning to another developer for mixed-use to complement an industrial property outside of Miami.
Prologis has tapped Stiles Corp., which has plans to add nearly 500K SF of retail, restaurants and entertainment space at its Beacon Lakes Industrial Park, including a Topgolf, an indoor golfing entertainment venue, according to the Wall Street Journal.
This is what Prologis views as the next step in the evolution of massive industrial parks.
“There is no doubt that the market for labor in our business and additional businesses in this economy has become more competitive,” Prologis East region president Nick Kittredge said to the paper. “To work in a beautiful environment and have amenities at the ready is definitely a differentiating factor.”
Prologis is selling land contiguous to Beacon Lakes to Stiles Corp. Beacon Lakes is home to such tenants as UPS, Amazon and Ryder Systems. NBCUniversal Telemundo is building its new headquarters, which will house more than 1,000 employees, at the site.
CORRECTION, JUNE 1, 4:30 P.M. ET: A previous version of the story did not include that Prologis is selling land connected to Beacon Lakes Industrial Park to Stiles Corp., which will develop the 500K SF of retail mixed-use space. The story has been updated.