Medley
Located in the Northwest corner of Miami-Dade County, Medley is one of Miami’s industrial submarkets. The city was named after its founder, Sylvester Medley. It is more concentrated with industrial buildings than any other city in Miami-Dade.
With over 1,100 businesses, Medley has more businesses than it does citizens. The vast majority of these businesses are located in warehouses. These warehouses range from small, freestanding buildings with extra land, to large Class A institutional product. Its 1,100+ businesses include Sysco, Seaboard Marine, AAR Landing Gear Services, and Lawson Industries. A few of the institutional owners include AEW Capital Management, TA Associates, and Prologis.
Very close to Medley is a portion of unincorporated Miami-Dade County, which is also heavily saturated with warehouses and some of the county’s remaining industrial parcels. A few tenants in that area include: Ryder System, PriceSmart, Preferred Freezer, BE Aerospace, and Lagasse.
Medley warehouse sale and lease prices vary depending on location and which “class” of warehouse you are looking at, i.e. – Class A, B, or C. The warehouse lease prices range from about $6.50 per sq. ft. gross up to $8.50 per sq. ft. gross. The cheaper warehouses are older, and are front-loaded. The more expensive warehouses are newer, have higher ceilings, are rear-loaded and generally have the newest electrical technology. Warehouse sale prices range from $70-110 per sq. ft.; the deviation in pricing, like the warehouses for lease, is based on the warehouse features, age and location.
Medley warehouses are desired by companies whom seek functional and economical warehouse space. Medley is generally about $1.00 – $1.50 per sq. ft. cheaper than warehouses in Doral.
Homestead has some dock high warehouses but it is limited to the newer construction and it is in small pockets within the city. Homestead warehouses lease from $7.00-$8.00 per sq. ft. Warehouses sales, very few, are between $50-$70 per sq. ft. The prices wide range is due to a lack of sales and leases.