Industrial

A joint venture plans to redevelop 777 Industrial Rd. into a 123,000-square-foot class-A life science building located within one of the Bay Area's fastest growing life science clusters, San Carlos.

I'm especially proud that our entire team transitioned back to working at the office five months ago.

In the venture, the Blackstone funds acquired a 90% interest in six data center shell properties.

Industrial has become a tail of haves and have-nots this year, with ecommerce growth on one end and manufacturing struggles on the other.

The industrial market gained steam in the third quarter, with rents rising 2.6% to $7.21 per square foot.

US industrial inventory increased 2.4% this year while industrial absorption increased 3.3%.

The Denver-based investor buys a 601,000-square-foot multi-tenant industrial building in San Diego.

With this acquisition, BREIT becomes the third largest non-listed owner of storage in the US.