Cargill is leasing 70,000-square feet at Beacon Logistics Park, half of which is for freezer space with the remaining space allocated for offices and cooler storage.
There continues to be a strong appetite from lenders for the right commercial real estate assets and new development in select South Florida markets, according to PEBB Enterprises CEO Ian Weiner.
While CBRE Research found that work on industrial projects in 16 of the top 20 markets was deemed "essential" and ongoing, a string of factors is slowing construction.
The National Multifamily Housing Council says its latest construction survey "portends potential for the COVID-19 pandemic to further exacerbate the nation's affordable housing shortage."
Law firms with big practices in the cruise and hospitality industries are being impacted by the shutdown of these clients, prompting them to seek wiggle room in their office rents.
Phase I of Northpoint Village will have a standalone shopping center and approximately 16,600 square feet of inline space adjacent to the Publix grocery store.
The seller, the Teachers Retirement System of the State of Illinois, purchased the property in a foreclosure auction in 2011 for $57 million, about a 31% decline in its market value.