Net absorption stood at negative 1.3M SF in the second quarter, with total absorption in the first half down 35% to 47.4M SF.
The deal would be funded through cash from one or more of its investment vehicles and debt financing.
The portfolio consists of 58 industrial properties and one surface parking lot across 13 states.
National Development has already begun demolition on the site.
The world's second-largest private equity fund is following through on its plans to focus on the U.S. industrial sector.
Despite losing some ground in Q2, landlords of smaller industrial facilities are seeing better activity -- and better rents -- than the overall market.
Lancaster and Berks counties have fielded an increasing level of industrial investment and development as other Pennsylvania markets become harder to build in.
While data center builders in the region are facing escalating challenges, industrial developers see opportunity to grow.
EastGroup Properties announced significant management changes as it looks toward the company's future growth.
A new women’s network is launching in Reno to close industrial real estate’s gender gap as warehouses surge from e-commerce to AI data centers.
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