Industrial

The business park, located at 1100 Ridge Road in Perkasie, Bucks County, PA is currently one of the only master-planned, multi-phase developments in suburban Philadelphia.

Denholtz Properties, which has a portfolio of office, industrial and retail space in New Jersey, Pennsylvania and Florida, also announced the sale of a parcel of land adjacent to its 1000 N. Ashley Avenue office building in Downtown Tampa to Mill Creek of Boca Raton, FL.

The Boston-based firm received the latest round of funding from existing investors Wavecrest Growth Partners, River Cities Capital Funds, MassMutual Ventures and Camber Creek Ventures. The same investment group, led by Wavecrest Growth Partners, provided Building Engines $26.5 million in 2016.

The firm buys a property with three single-story distribution warehouse buildings, totaling 150,245 square feet.

The firm signed a 12-year lease with Zymergen for 300,000 square feet at Emeryville Center of Innovation.

New owner Panattoni will develop a 159,405-square-foot speculative class-A distribution center on the acreage at 1701 Valley View Ln., and the facility is expected to deliver in second quarter 2020.

Cannabis REIT Innovative Industrial Properties has posted strong historical performance without any federal policy support and is expected to continue to outperform.

Speakers at Transwestern's annual symposium of insurance investors outlined their strategies for this part of the cycle.