Here’s how much industrial land prices have increased in South Florida since 2013

Land is the most expensive in Broward, but prices have risen at a faster clip in Miami-Dade

TRD MIAMI /
Jul.July 06, 2018 10:30 AM

An industrial warehouse (Credit: Max Pixel)

The cost of building new warehouses has been rising in South Florida thanks in part to a dwindling and more expensive supply of land.

Land prices have skyrocketed in recent years, up 106 percent this year in Broward County to about $1.2 million per acre since 2013, according to research analyzed by Colliers International South Florida. In Miami-Dade, industrial development sites are trading for about $940,000 per acre, up more than three times the $297,000 per acre that land was selling for in 2013.

Colliers looked at land sales for industrial use that sold for $2.5 million and up.

Land is the most expensive in Broward, but prices have increased at a faster clip in Miami-Dade, according to the research. In Palm Beach, the cost of industrial land grew at a slower pace over the five-year timeline. In 2018, developers paid about $304,000 per acre, compared to the $209,000 per-acre cost in 2013. And land prices in Palm Beach County actually peaked in 2017, when sales averaged about $556,000 per acre.

Here’s the breakdown from 2013 to 2018:

Active players in Broward include Bridge Development Partners, which paid $12.3 million for 40 acres of land in Pompano Beach in November. There, the firm is planning a 467,000-square-foot industrial park. The trade broke down to $307,500 per acre.


Related Articles

arrow_forward_ios
The property and Jonathan Salk (Credit: Google Maps)

Liberty Property Trust sells Fort Lauderdale industrial buildings

Clockwise from top left: 3400 Northwest 74th Avenue, the Opa-locka industrial property and Centergate at Gratigny (Credit: Google Maps)

Here are South Florida’s largest industrial sales of 2019

5601 Northwest 72nd Avenue (Credit: Google Maps)

These were South Florida’s biggest industrial leases of 2019

Fordome Investment Group’s Kris Rodriguez and Blackstone’s Stephen Schwarzman (Credit: Getty Images, Google Maps)

Blackstone plans to build new Medley warehouse

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

IMC Equity’s Yoram Izhak and 1490 West 49th Place (Credit: Google Maps)

IMC Equity snags Hialeah office building from Cofe Properties

Industrial sales are up

South Florida’s industrial sales jump to over $1B in Q3 2019

Daily Digest Miami

Related sells Tampa apartments for record $132M, Miami apartment tower evacuated after fire: Daily digest

arrow_forward_ios
Loading...