Premier Industrial commercial real estate news, analysis, trends and information including warehouse, distribution, logistics, e-commerce, self storage and R&D space deals and players.
Self storage has proven to be a defensive asset class in that there is still a good deal of demand for quality self-storage product and capital is available to well-located institutional-quality projects.
The private placement is expected to close in mid December 2018 in conjunction with the closing of a previously announced portfolio acquisition in Jacksonville, FL.
The Puget Sound area has many large corporations driving growth such as Boeing, Microsoft, Amazon, Starbucks and Costco, leading to construction of all building types.
"This acquisition continues the expansion of our nationwide industrial portfolio, which seeks to secure strong, income-oriented returns at this mature stage of the current real estate cycle,” says Brodie Ruland, ASB senior vice president and Northeast region head.
GM also notes that in addition to the previously announced closure of its assembly plant in Gunsan, Korea, GM will cease operations at two additional plants outside North America by the end of 2019.