Case Study
Overview
Purchased in 2017, Miami Central Commons is a 47-acre site located in a high-demand industrial area less than three miles from the airport.
Location
Miami, FL
Purchased in 2017, Miami Central Commons is a 47-acre site located in Airport West, Miami’s premiere industrial submarket, with convenient access to Miami International Airport – the major driver of industrial demand in the market – which is less than 3 miles away. The site, originally developed in 1979, included two existing buildings totaling 823k sf and 18-acres of undeveloped land. Foundry has since completed Phase I, which included the delivery of 318k sf of Class A industrial product on the 18-acre lot that is currently 100% leased. Phase II construction, totaling 622k sf, is projected to commence in 2Q/3Q 2023 with substantial completion expected to be achieved in early 2025.