Industrial

To finance this acquisition, ILPT expects to enter into a joint venture with one or more institutional investors for equity investments of between $430 million and $1.3 billion.

At the start of Q3, many companies were still taking a wait-and-see approach.

The portfolio comprises 328 modern supply chain and e-commerce facilities totaling 70.5 million square feet.

"Our fear is the customer is not receiving the experience that should lock them in long-term once their savings and 'cabin fever' wears down."

The focus is on multi-tenant warehousing, seeded by a portfolio of over 7 million square feet.

Global CRE investment totaled $350 billion, bringing the year-to-date total to $800 billion.

The increase in vacancy is related to new construction activity, which is up 1.5% for the quarter.

Industrial has become the favored asset class for net lease investors after the pandemic.