Industrial

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

The investor will convert the nine-property, 371,281-square-foot portfolio into a life science campus.

Prologis Research forecasts net absorption of 375 million square feet and deliveries of 285 million square feet for the full year.

The seven-property, 3.4 million square-foot property is at the Southern California Logistics Centre.

Luminous Capital Management and Virtus Real Estate Capital have formed a joint venture to convert an industrial warehouse into a life science facility.

Inflation-adjusted household wealth is up 21.4% over pre-COVID levels.

The investment strategy will focus on properties that meet emerging needs for driverless car infrastructure, same day delivery and climate-controlled storage.

One problem is that lengthening construction timelines have muted quarterly deliveries.