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After months of record demand, industrial activity may hit a snag as investors wait out the effects of rising interest rates.
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Chicago industrial tenants should expect to pay more and widen their search areas.
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The hotel likely sold more for its opportunity for redevelopment than its status as an active hotel.
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Tenant demand is expected to remain strong despite a shortening of supply amid the rising cost of capital and interest rates.
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New York developer DH Property Holdings said it was drawn to the 5-acre site because of its proximity to Boston and Logan Airport.
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Rexford has spent about $3B on industrial property in SoCal since 2021.
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The 33K SF building will feature two loading docks for tractor-trailers and is situated near an area zoned for increased residential density.
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Construction on new manufacturing facilities has increased by 116% over the last year as supply chain issues led companies to shift production closer to home.
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LPC West's industrial holdings are expanding in the San Diego area, where vacant warehouses are rare.
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By size, the deal is the fourth-largest industrial deal ever completed in Colorado.
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