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