Property Types Industrial
The News: More Shrinkage for U.S., Global Manufacturing Sectors
Jan. 06, 2009
The U.S. manufacturing sector is taking a continuing hit from the contracting economy, according to the Institute for Supply Management’s monthly survey of purchasing managers. A multi-front pullback in activity suggests softening demand for distribution, manufacturing and other industrial space requirements.
The Expert: Have Los Angeles’ Industrial Real Estate Fortunes Set Sail?
Jan. 06, 2009
Global trade is a major driver of industrial real estate demand. Nowhere is this more apparent than in the Los Angeles Basin, the United States’ gateway for trade with Asia. LAX ranks third in the nation in international air cargo and first in trade with Asia. The ports of Los Angeles and Long Beach comprise 35 percent of the country’s container trade, and the region accounts for more than 12 percent of the nation’s trade by volume.
$48M First Phase of Brooklyn Bridge Park Project Breaks Ground
Dec. 31, 2008
Reusing and revitalizing Brooklyn’s deteriorated East River waterfront began with a groundbreaking in February on the piers area and now a $48 million contract was awarded to Skanska for Phase I of the Brooklyn Bridge Park project in New York City.
Port of Houston Planning $283M in Projects
Dec. 29, 2008
With more than $283 million in construction planned, the Port Commission of the Port of Houston Authority is working to assure Houston’s emergence as the nation’s busiest port is met with cutting edge facilities.
The News: Michigan Property’s Blueprint to Factory Renewal
Dec. 23, 2008
Odds are better than ever that some time in 2009, a tenant will take the last 200,000 square feet available at Midlink Industrial Park in Comstock Township, Mich. If and when that happens, the lease signing will cap a remarkable comeback for the former site of a General Motors Corp. stamping plant.
The Expert: Warehouse Rents Feel the Pain
Dec. 23, 2008
The national industrial market is still feeling the effects of continued sluggishness in import growth, the U.S. recession and worldwide economic slowdown. While gross domestic product is contracting, sluggish consumer activity continues to exert downward pressure on the demand for distribution space.
ProLogis Buy Eases Debt Squeeze on European Unit
Dec. 22, 2008
Facing a looming CMBS debt maturity next summer, ProLogis European Properties is getting some much-needed breathing room from its corporate parent. In a deal valued at about 43 million euros, or $61 million, Luxemborg-based PEPR is selling ProLogis a 20 percent share of a private investment fund.
Detroit Gets a Little Relief
Dec. 19, 2008
The Bush administration has decided not to let the auto industry implode on its watch, doling out $9.4 billion to GM and $4 billion to Chrysler from the TARP program, which has seemed to stray somewhat from the financial industrial bailout it was designed to be. Ford, which didn't ask for an immediate cash infusion, isn't getting anything for the moment.
First Industrial Gets $110M Loan for CalSTRs JVs, Discontinues European Operations
Dec. 19, 2008
First Industrial Realty Trust Inc. has obtained a new $110 million term loan facility for its joint ventures with the California State Teachers’ Retirement System (CalSTRS), the second-largest public pension fund in the United States. The news came one day after the REIT said it was discontinuing its European operations as part of a cost-cutting measure.
Signet Solar to Build $840M Plant in New Mexico
Dec. 18, 2008
Signet Solar Inc., a manufacturer of thin film silicon photovoltaic modules based in Menlo Park, Calif., plans to build an $840 million manufacturing facility in Belen, N.M., about 30 minutes south of Albuquerque.
New Chicago Lease Further Evidence that ProLogis is Alive and Kicking
Dec. 17, 2008
Even if the generals have a brilliant plan for victory, wheels still need to roll at the front line if it’s all going to mean anything. In the case of ProLogis, time might still have to tell regarding the warehouse/distribution giant’s recovery strategy, but the ground-level activity seems to be rolling forward much as usual.
Report Sees Gloomy 2009 for SoCal CRE
Dec. 12, 2008
Business closures and slowing trade will negatively affect the office and industrial sectors well into 2009 in Southern California, according to a report released today by the Casden Forecast at the University of Southern California Lusk Center for Real Estate.
ProLogis Leases 118,500 SF near Columbus
Dec. 12, 2008
ProLogis has leased approximately 118,500 square feet near Columbus, Ohio to Health Care Logistics, a distributor of unique and hard-to-find healthcare products.
Intercontinental Buys Tucson Industrial Portfolio for $46M
Dec. 11, 2008
Intercontinental Real Estate Corp. purchased a 606,027-square-foot industrial/R&D portfolio located in Tucson, Ariz., from a joint venture of the Muller Co. and GE Real Estate for $46 million. The transaction is the largest investment sale completed in Tucson so far this year.
Colliers Lanard Merges with Markward Group
Dec. 10, 2008
Colliers Lanard & Axilbund has merged with Allentown-based Markward Group. In business since 1997, Markward Group is a full-service commercial, industrial and retail real estate brokerage firm.
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