Typically smaller, older and less efficient than their bulk warehouse counterparts, these buildings previously languished on the market. But thanks to recent outsized rent growth driven by strong demand from e-commerce and logistics providers, these formerly overlooked assets find themselves back in favor among investors in logistics hubs across the country.
The $1.07 billion sale reflects the strong demand for virtually all sizes and types of warehouse buildings in the tight U.S. industrial property market, where the average vacancy rate hovers at just over 5 percent.
The Miami-Dade County Commission voted 10-1 for preliminary approval of American Dream Miami, a proposed $3 billion "retail theme park" in northwest Miami to be developed at the Florida Turnpike and Interstate 75.
TH Real Estate this past week established a new joint venture with The Korean Teachers Credit Union. Under the agreement, both parties will contribute up to a combined $1 billion to invest in US commercial real estate loans.
The Office of the Comptroller of the Currency (OCC) is again raising concerns over easing loan underwriting practices among national banks and federal savings associations even as credit risks increase.
In a decision with potentially far-reaching impacts on how commercial and residential real estate brokerages do business, the California Supreme Court on Monday upheld a lower court ruling that a listing broker had a fiduciary responsibility to both the buyer and the seller in a "dual agency" transaction.