In May, 56% of homes in car-dependent neighborhoods sold for above asking price, versus 36% of transit-accessible homes.

The nearly 600,000-square-foot property accounts for half of the industrial construction pipeline in the market.

The ownership and improving market fundamentals made the deal attractive to the lender, Square Mile Capital Management.

"The slight shift, following a few months of minimal change, indicates that the market is settling into a return to normalcy."