Leasing

This was Detroit's 30th consecutive quarter of positive absorption and the vacancy rate stayed below two percent, at 1.93%, for the third consecutive quarter.

Easier access to Capitol Hill and the ability to host members in a vibrant, amenity rich neighborhood were among the reasons, RILA's president said.

During the period in which PointOne Holdings owned and operated the property, occupancy increased from 90 to 99% and average effective rents increased by 22%, from $747 to $912 per unit per month.

Downtown Los Angeles has attracted a bevy of major retailers, and with a growing population base, this is likely just the start.

Office rents in the market are up more than 22% from 2013 in San Diego, driven by tenant growth and improved real estate quality.

“The properties on Passaic Avenue were vacant eyesores for many years, and Russo has been transforming them into better ratables that will bring residents, shoppers and businesses to Kearny,” says Mayor Alberto Santos.

CBRE VP David Kleinhandler, who has worked in this sector for more than a decade, does not see this trend swinging the other way in the near future.

"This acquisition continues the expansion of our nationwide industrial portfolio, which seeks to secure strong, income-oriented returns at this mature stage of the current real estate cycle,” says Brodie Ruland, ASB senior vice president and Northeast region head.