Negative net absorption hit 4.7M SF, due to a handful of very large move-outs.
The property was purchased for 53% above its assessed value.
Land & Buildings Investment Management's founder claims that First Industrial Realty Trust is undervalued by as much as 30%.
Global Net Lease will acquire Modiv Industrial's portfolio, which was valued at $597M in December.
The Kern County master-planned commerce center is already home to national credit tenants including Famous Footwear, Ikea and Plant Prefab.
Power has become a core factor in industrial site selection as developers are increasingly competing with data centers for access to electrical capacity.
New manufacturing and logistics projects serving the data center supply chain are moving the needle in the U.S. industrial market.
Prime Horsepower is planning a $32M industrial park in the northwest corridor.
Outrigger Industrial sold a 1M SF building at 12515 Lockwood Road and fully leased a neighboring building to Representative Materials Co.
The 28.3M SF of Class-A industrial space in Philly proper has a nearly 30% vacancy rate, but other parts of the region are doing much better.
We're not asking for your money. This is not a step towards a paywall. Our news is free and we intend to keep it that way.