Industrial

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Sealy & Co. acquired the eight-building portfolio for an undisclosed price.

This investment follows a $500 million stake Goldman Sachs acquired in a 46-asset last mile industrial portfolio owned by Dalfen Industrial.

While industrial real estate continues to outperform other commercial property types, there are challenges - for the industrial sector - in today's climate, which includes a global pandemic.

Respondents to the US Construction Monitor reported payment delays, in addition to dips in profits and in new business inquiries.

A Colliers International analyst in Milwaukee, Wisconsin, expects a trend of "modest decentralization" by tenants in the office market as an effect of the pandemic.

"The industrial market enters the second half of 2020 well positioned to record increased demand for available space and inflows of investor capital," Marcus Millichap research analyst Erik Pisor said.

EverWest has been actively pursuing US infill industrial opportunities, and a Renton asset fits squarely in the parameters of quality, location, stability and long-term value while complementing the existing portfolio.