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As the vacancy rate moved down, rents also inched up, finishing the first quarter at $6.43 per square foot.
Led by PeakSpan Capital, the round was oversubscribed
But that's one study. Another sees a somewhat different and more complicated March.
Pandemic struggles disappeared as pre-leasing and rent growth improved significantly.
The vacancy rate in the nation's top industrial has fallen to .4%, while the construction pipeline surpasses 30 million square feet.
Year-over-year rent growth in Q1 2022 clocked in at 15.2%.
Tricap Residential's new centralized leasing and operational model is paying dividends.
"The working model of coming in five days a week is something that we aren't going to see for a while in some industries," according to Rob Gilman of Anchin.
The parcel is the second and final land acquisition to build the Apollo Project, a 472-unit apartment property in Downtown San Jose.
The joint venture bets that flex offices, a good fit for hybrid work, will occupy 30% of office space by 2030.