Prolific industrial investor and redeveloper Velocity Venture Partners has acquired a former department store in South Jersey for conversion.
Rents are high and demand is strong despite a cooling market.
Manufacturing helped build Baltimore, and while the sector has no facilities under construction in the region today, backers say it can be part of its future.
A vacancy issue is simmering in DFW as tenants pause space decisions and a historic amount of new construction hits the market.
It's still not a tenant's market, but users have some room to move.
Marcus Partners sold the portfolio, which spans more than 1M SF across buildings in Franklin, Peabody, Sutton and Avon.
Big leases are few and far between these days, even in a major industrial market like the Inland Empire.
Rents are down, vacancy is up, but no alarm bells are ringing yet, according to Savills.
The loan will refinance 12 distribution centers owned by Preylock, a landlord with one of the biggest industrial portfolios leased to the e-commerce giant.
The company still beat analysts' expectations for revenue in Q1.
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