Foundry Commercial, GLP Kickstart Miami Industrial Project

Foundry Commercial and Modlo, the logistics platform of GLP Capital Partners, have commenced development of the Modlo Air Logistics Center in Doral, Fla. The project will add approximately 495,000 square feet of next-generation logistics space to the high-demand Miami-area market.

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The Modlo Air Logistics Center will take shape on a nearly 24-acre site that had been home to a 1960s-era PepsiCo bottling facility. GLP Capital acquired the property from Terra and Terranova Corp. in a $55 million transaction in February 2021.

The project’s address of 7777 NW 41st St. places it in the heart of Doral’s thriving industrial market, just 2 miles from the Miami International Airport’s cargo entrance and within close proximity of the Port of Miami. The site is part of Miami-Dade’s Airport West submarket, which recorded positive net absorption in the third quarter of 2021 and a vacancy rate of just 3 percent, according to a report by Cushman & Wakefield.

Modlo Air Logistics Center. Image courtesy of Foundry Commercial

Miller Construction is serving as the general contractor for the Modlo Air Logistics Center and will oversee the construction of the park’s three structures, including the approximately 171,200-square-foot Building 1, the 173,700-square-foot Building 2 and the 150,100-square-foot Building 3. The warehouses will also include spec office space and another feature that has become highly desirable among today’s tenants: 36-foot ceiling heights. Presently, Miller is installing pads that will allow for the simultaneous construction of all three facilities.

Keeping it green

Foundry and Modlo tapped RLC Architects to design the Modlo Air Logistics Center, which will be a model of sustainability built to meet the requirements for LEED certification. The next-generation logistics facilities will incorporate such energy-saving features as insulated glass, R-20 roofs and LED lighting. Additionally, the industrial park will offer electric car charging stations.

As industrial remains one of the fastest-growing asset classes in the industry, it’s imperative that developers of new properties consider the environmental impacts and find ways to lessen their carbon footprints, David Blount, vice president with Foundry Commercial, said in a prepared statement.

Foundry and Modlo expect to deliver all three of the Modlo Air Logistics Center’s warehouse buildings in the summer of 2022.