The JV will target industrial buildings in the $10M to $40M range within California, Arizona, Nevada, Oregon and Washington.
An industrial building in Costa Mesa's marijuana business district trades hand for $2.5M.
Despite incredibly low supply, the Greater Philadelphia region has seen very little speculative industrial development the past few years.
Marina Crossings is four blocks from the historic Central Manufacturing District.
Merger will give Prologis deeper penetration into Southern California, South Florida and New Jersey.
Dayton Street founder Howard Wedren said the new building will be ready next spring.
Industrial development costs are high, but so what: rents make it worth the cost.
Commercial property prices have remained flat this year due to retail's losses offsetting industrial gains.
Truss will enter Houston by Labor Day.
CBRE's research shows industrial demand has begun to break away from its historical pattern, with e-commerce driving net absorption to new highs.
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