Industrial

The governor's budget supports more than $1.26 billion in direct property tax relief, which includes $276 million for the Homestead Benefit, as well as an increased property tax deduction cap and expanded Senior Freeze eligibility that the governor and legislature enacted in their previous budgets.

Despite 6.4 million square feet in industrial deliveries in 2019, the vacancy rate in Phoenix stayed below 10%.

"There has been increased demand for distribution centers for e-commerce and some food users have seen quite a bit of activity."

Four of the U.S. Whirlpool sites are located in Ohio—Marion, Findlay, Ottawa and Clyde—and one is in Cleveland, TN. Two properties are in Fabriano, Italy.

Ferrara's new distribution complex is expected to be fully operational in the second quarter of 2021 and will bring approximately 500 jobs to the city.

Los Angeles' tight and fiercely popular industrial market as erupted in the last decade.

The first new speculative industrial development in Richardson, Parc NorthEast, provides an alternative option for new and existing tenants seeking space not available for nearly 20 years.

The unnamed Asian investor will contribute approximately $108 million for a 39% equity interest in the joint venture and ILPT will own the remaining 61% equity interest in the joint venture.