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"There is absolutely a need for centrally located fulfillment centers and distribution facilities, and we believe that some vacant warehouses can provide a good opportunity for that type of repositioning."
Many people plan to carry their home improvement projects passed the pandemic, and the trend will keep home improvement retailers in the essential retail category.
Since March, rents have fallen in 41 of the top 100 metros in the US with San Francisco, New York and Seattle among the markets with the steepest declines.
Construction on the Chapter Buildings and Brooklyn Cut is anticipated to begin in 2021 and be completed in 2023, located one block of Sound Transit's future link light rail station, which opens in fall 2021.