MIAMI—JLL managing director Brian Smith is now leading the firm's industrial business practice in South Florida. As the South Florida broker lead, he works closely with JLL's leadership to lead the brokerage team's strategic direction, identifies growth opportunities and works with the various industrial teams in support of achieving clients' goals and real estate decisions.

Smith, who has handled more than $2 billion in transactions during his career, led the completion of the 550,000-square-foot lease that paved the way for Telemundo Enterprises/NBC Universal's world headquarters and studio campus in western Miami-Dade earlier this year. GlobeSt.com caught up with Smith to discuss issues facing the South Florida's industrial market in part one of this exclusive interview.

GlobeSt.com:What types of users are driving industrial market growth in South Florida?

Smith: The types of users active in the market consists of a wide array of distributors, supply chain-logistics firms, food companies, e-commerce and freight forwarders. South Florida has seen construction starts increase to near record levels over the past 24 months.

We have also seen very strong net absorption and rent growth. The biggest drivers have been new occupiers coming to the market and absorbing larger blocks of space, coupled with local and regional companies expanding their existing footprint. Some examples of new players would be Amazon, Hikvision and John Deere. Build-to-suit activity has also been brisk with a number of large deals circling in the 150,000 square feet to the 850,000 square feet range.

GlobeSt.com: How is technology changing how warehouses are being designed, built and used?

Smith:Technology, like in our daily lives, is speeding up the process of moving goods through the supply chain. Warehouse management software, improved construction and design, as well transportation and labor data analysis, are all playing a key role into where companies locate their spaces.

The newer industrial space product continues to improve efficiencies for maximum through put. For example, newly built warehouses now have higher ceilings for more cubic storage capacity, energy efficient lighting and utilities, less columns and more loading doors.

GlobeSt.com:What types of users are driving industrial market growth in South Florida?

GlobeSt.com: How is technology changing how warehouses are being designed, built and used?

Instant Insights /

What's Driving South Florida Industrial Growth

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