Telemundo and online retail giant Amazon.com are on the hunt for large industrial facilities in Miami, according to a new market report.
ComReal Miami’s first quarter industrial market report identified Telemundo and Amazon.com as the two companies looking for the largest amount of square footage in Miami. Telemundo wants about 800,000 square feet, with studio, warehouse and office space. Amazon.com hopes to find more than 250,000 square feet of warehouse space.
A slew of additional companies are scouring Miami for industrial facilities totaling more than 100,000 square feet, according to ComReal. Many of them are open to buying properties if a lease option does not materialize.
Miami’s industrial market had more than 916,000 square feet of positive absorption during the first quarter of 2014. Its vacancy rate dropped to 6 percent. — Eric Kalis