Industrial

Late last month, Bridge Development Partners acquired the 304,428-square-foot complex from Sherm Realty Corp., an affiliate of Weston, FL-based Apotex Corp. for $38 million.

Developers should focus less on the benefit from the opportunity zone incentives and more on the overall return from investing in the property, says Jeff Monge, managing partner of Monge Capital.

Industrial rents in the San Diego market grew 10.2% in 2018 and are up nearly 30% over the prior peak in 2007.

Investors have been active in Sacramento during the last year because of low vacancy, high demand, lack of new construction and affordable developable land, resulted in a spec development spike.

Breweries are taking up industrial and retail space in the Inland Empire's Riverside market, growing 5% in 2018.

“With the completion of the TPG Real Estate Partners III fundraise, we are well-capitalized to execute our distinctive investment strategy and continue building a differentiated investment portfolio,” says Kelvin Davis, founder and co-head of TPG Real Estate.

Redevelopment experts who spoke at the NJ Future Redevelopment Forum say new tools are needed to determine how to prioritize infrastructure investments in cities, towns and regions, so that businesses and jobs can grow.

The developers closed on two classic industrial lofts at 42 and 50 Jay St. in DUMBO, Brooklyn to convert them into townhouses, lofts and penthouse units.