Commercial firms lock in space ahead of Panama Canal expansion

Easton Group, others investing in warehouses and industrial properties

TRD MIAMI /
Jun.June 03, 2014 03:45 PM

Ahead of the expansion of the Panama Canal, which will send massive new cargo ships to PortMiami, commercial firms like the Easton Group are buying up huge amounts of industrial space.

The Doral-based firm currently owns more than 2.5 million square feet of industrial space, and is continuing to invest in warehouses. In December, the company spent over $10 million on a 120,000-square-foot warehouse, plus four acres at 2525 NW 82nd Avenue in Doral. And it has just gone into contract on two other properties in Miami-Dade County.

“It’s nothing but positive,” chairman Edward Easton told the Daily Business Review. “I’m optimistic about industrial properties and would be glad to buy them, but they’re hard to find. There are very few motivated sellers out there. The market is very strong.”

The Chicago-based conglomerate Bridge Development Partners is also getting in on the action. The firm has about 1 million square feet of office and industrial square feet under development across South Florida, and has two projects in the works in Broward.

By August, Development Partners hopes to open Bridge Point Port 95, two speculative Class A buildings with 229,632 square feet in Dania Beach. Another 185,000-square-foot project, Marina Mile, also in Dania Beach, will open in the fourth quarter. [Daily Business Review]Christopher Cameron


Related Articles

arrow_forward_ios
Ron Bergeron with 3310 Northwest 24th Street (Credit: Facebook and Google Maps)

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
Joseph Swedroe (Corcoran, iStock)

Corcoran agent in Miami loses job over “racist and fear-based” marketing

Corcoran agent in Miami loses job over “racist and fear-based” marketing
Vanessa Grout with Vladislav Doronin

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
Edgardo Defortuna and a rendering of La Playa de Varadero

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end
Richard Branson (Credit: Virgin, Cindy Ord/Getty Images)

Virgin Trains seeks $350M to build five stations in Miami-Dade

Virgin Trains seeks $350M to build five stations in Miami-Dade
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...