INDUSTRY NEWS
ANDERSEN CORP. BEGINS CONSTRUCTION ON $420M INDUSTRIAL ASSET
Andersen Corp., a door and window manufacturer, started construction on a new $420 million, 638K-square-foot manufacturing and distribution facility. Operations at the facility are set to begin in 2025. Read More
HERE COME “NEXT WAVES” OF INDUSTRIAL REAL ESTATE DEMAND
According to a GlobeSt report, onshoring, nearshoring, and the rise of secondary markets are all factors to this new rise in demand for the real estate sector. Read More
INDUSTRIAL REAL ESTATE’S PULLBACK IN DEMAND WON’T LAST A LONG TIME
The average deliveries forecasted for the next five years are less than half of what was seen in 2023; however, in spite of this foreseeable drop a Marcus & Millichap report sees “real bright spots” in the industrial market’s future. Read More
JLL SETS UP $869M REFI OF INDUSTRIAL PORTFOLIO
JLL Capital Markets brokered refinance transactions for 25 Class A properties that are spread across 13 major markets in the United States. Read More
TRANSACTIONS
SC, TN & WI – TEMPUS REALTY ACQUIRES INDUSTRIAL PORTFOLIO FOR $78M
The Carlstar Group sold 1.4M square feet of industrial real estate assets to Tempus Realty Partners for $78 million in a sale-leaseback transaction. Read More
DEVELOPMENT SITE IN QUEENS SOLD FOR $21M
RockFarm Properties sold a development site in Queens for $21M to FBL Development. Read More
MINNEAPOLIS, MN – CLEAR HEIGHT ACQUIRES 121K-SQ-FT INDUSTRIAL COMPLEX IN MN
A JV Partnership between Clear Height Properties and Harbert US Real Estate acquired a 121K-square-foot, multi-tenant light industrial complex in Bloomington, MN. Read More
RENO, NV – WESTCORE BUYS NV INDUSTRIAL PROPERTY FOR $83M
Washington Capital Management sold a fully occupied Class A industrial distribution center to Westcore Properties in the Reno, NV area for $82.5 million. Read More
EAST HANOVER, NJ – SEVEN-BUILDING PORTFOLIO SOLD FOR $218M
Retail REIT Urban Edge Properties sold a 1.2M-square-foot, seven-building portfolio for $217.5 million. The deal was structured as part of a 1031 exchange transaction. Read More
PRINCE GEORGE’S COUNTY, MD – PROLOGIS ACQUIRES 50-ACRE INDUSTRIAL LAND SITE
Prologis plans to develop a 340K-square-foot state-of-the-art industrial park on the industrial property it purchased in Maryland. Read More
QUOTE OF THE WEEK
“The U.S. economy has grown strongly despite a series of 11 rate hikes since March 2022.”
– Jeff Cox, CNBC.com Reporter