The market has the lowest industrial vacancy rate in the US at 1.3% with 21 consecutive quarters below 2%.

Cushman & Wakefield is leading the marketing sale for 7 Cross Bronx Service Rd Extension, a 23,608-square-foot residential development site in the West Farms neighborhood of the Bronx.

Separately, JLL reported that global commercial transaction volumes reached an all-time high of $800 billion in 2019, increasing 4% year-over-year.

In the US multifamily sector alone, more than $2.9 trillion of assets depend on valuation expertise for every transaction.