The building is owned by Berlyn Co. James Glickman, principal of Glickman Real Estate represented the owner and procured the tenant.
According to Lincoln Property Co.'s most recent statistics, the suburban industrial market's overall availability rate is at 14.5%, falling just .2% since the first quarter. But the market experienced its first quarter of positive absorption in a long time--88,284 sf--indicating that that the market is starting to recover. Lease rates for this deal were not available, but the average-asking rent for industrial space in the suburban market is at $6 per sf.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
