Prologis is petitioning Miami-Dade County to make its Beacon Lakes Industrial Park a foreign trade zone.
The trade zone would mean that merchandise housed there is no longer subject to customs duties and other ad valorem taxes, according to the South Florida Business Journal.
Miami-Dade already has about 2.5 million square feet of warehouses within foreign trade zone areas.
If the trade zone is approved, Beacon Lakes would become the fourth magnet site in the county. The other sites are PortMiami, Flagler Logistics Hub and Flagler Station. [SFBJ] – Christopher Cameron