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The deal for the 350-acre campus also features a sale-leaseback component with Deerfield, IL-based Caterpillar Inc. The construction equipment manufacturer plans to keep approximately 500 of the company's employees on site and will lease back an office building along with a portion of adjacent industrial space.
Dealpath received a strategic investment from Blackstone, and the partnership provides Dealpath with industry experience and expertise from Blackstone's real estate and innovations teams.
Due to the lack of new class-B supply paired with a high demand, Fort Capital believes well-located flex products such as the three it recently acquired will be increasingly attractive and cost-effective alternatives.
Demand for real estate investments remains high, with multiple sources of active capital, but cross-border investment is likely to slow in the short term and the scope will depend on how the disease evolves.
Industrial property construction added 144 million square feet across 441 properties last year with Dallas in second place following the Inland Empire which is set to grow by a larger margin.
A new chapter began about 2008 when hydraulic fracturing revolutionized the industry, says Joel St. John, JLL vice president, and in the last dozen years, the Permian oil and gas industry has reached maturity.
The renewals at the property located at 19-21-25 Main St. in Hackensack included The Knee Law Firm for 2,600 square feet, Potenza & Curtis Law for 1,350 square feet, Cowen & Jacobs for 1,250 square feet, and Robert M. Biagiotti Law for 1,000 square feet.