FYI Miami: March 2, 2023

Bellow are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.

INDUSTRIAL DISTRIBUTION BUY: Terreno Realty Corp. last week paid $173.6 million for a 121-acre property entitled for 2.2 million square feet of industrial distribution in Countyline Corporate Park in Hialeah. The Bellevue, Washington, company expects to complete building at the former landfill site at Northwest 170th Street and 107th Avenue in 2025 that will have 10 industrial distribution buildings with parking for 1,875 cars. The expected total investment in the project would be $491.4 million, the company said. Terreno already owned seven fully-leased buildings immediately adjacent to the newly acquired property. Terreno says the newly acquired site is already almost 30% pre-leased and has one 191,000-square-foot and one 506,000-square foot industrial distribution building now under construction.

COLLEGE ROLLS SPIRAL DOWN: Enrollment in the Florida college system, which dropped during the pandemic, isn’t projected to bounce back to pre-pandemic levels in the coming years, according to a report released last week by the state’s Education Estimating Conference. Enrollments of full-time equivalent students, which were at 320,302 for the 2018-19 academic year, have fallen Every year since then and are projected to keep falling to 260,709 in a steady downward spiral, according to estimates. Totals were 316,276 in 2019-20, then 293,493 in 2020-21 and 271,916 in 2021-22. The figure for the current academic year is 268,785.

PARK ENTRANCE SHIFT: In a bid to protect cyclists in a stretch of road where collisions have been frequent, the county is moving the entrance to Hobie Beach Park on the Rickenbacker Causeway 350 feet east of its present location to eliminate two points of conflict between cars entering the park and cyclists crossing the entrance. The change will add distance between the end of the William Powell Bridge and the park entrance, increasing the time for eastbound traffic to slow as cars leave the bridge and notice bicyclists and pedestrians, a memo from Mayor Daniella Levine Cava said in informing county commissioners of the change. In the process, two driveways into the park will be consolidated “to further reduce the conflict points,” the memo said. The changes will cost $370,000.

GASSING UP GOES DOWN: Average gasoline prices in Miami fell 2.7 cents per gallon in the past week to $3.36, according to GasBuddy. Prices are 24.1 cents lower than a month ago and 18.2 cents lower than a year ago. The national average price fell 4.3 cents in the past week to $3.33, down 17.6 cents from a month ago and 26.3 cents from a year ago.