Granite REIT recently purchased two distribution centers in West Jefferson, OH, from Duke for a total of $154.4 million, including 15 Commerce Parkway, a 1.3 million square foot building.
CHICAGO—The rise of e-commerce has made industrial property in the US one of the favorites among investors. And buildings in the Midwest, from which national distributors can reach much of the country, are especially desirable.
As a result, by the midpoint of 2018, a series of mega-deals pushed industrial investment in the US up to $23.6 billion, a 19% year-over-year increase, according to a new Avison Young report. And Midwest cities contributed significantly to the activity, with a 103% increase in Columbus, to $648 million; a 41% increase in Chicago, to nearly $2 billion; and a 29% increase in Indianapolis, to $72.8 million.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
