Industrial

The tariffs are already impacting cargo volumes at the Port of Long Beach this year, and investors are preparing for the potential impact on the real estate market.

The 17,195-square-foot single-story warehouse sits in an Opportunity Zone on the southwest corner of 222nd Street and Edson Avenue.

The mayor has proposed a Class 6 (b) tax incentive to support the $3.9-million rehabilitation of an 84,174-square-foot industrial building in the Stockyard Industrial Corridor by Griffith Foods Inc.

Major items in the proposed $3.6-billion 2020 Capital Budget include: $2.1 billion in aviation spending, including $1.5 billion to continue redevelopment of the agency's airports.

The company will occupy 10,600 square feet at Related Beal's eight-story 286,000-square-foot office building. Motif FoodWorks is expected to take occupancy in June 2020.

The confectionary manufacturer will be located at the former Guardian Life property, owned by JG Petrucci, to manufacture chocolate stuffed marshmallows and plans to make significant improvements to the property.

The team, led by David Beshears, brings a 25-year track record and will focus on a wide variety of property types, primarily in Florida and the Southeast.

2019 had the second-highest Q3 investment volume on record after Q3 2018's $153.2 billion, according to CBRE.