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At year-end 2018, the Miami-Dade industrial real estate market saw net absorption of 1.3 million square feet for the year and a 4.5% overall vacancy rate.
The increase in market value of MetLife's CRE investments is being driven by strong activity throughout North and South American, European, and Asian markets.
San Francisco office tenant demand relative to available supply has reached its highest level since 1999, and tenant square footage has increased to 6.8 million square feet, equal to the level of existing supply.
The sale will allow Somerset to transform the vacant former AT&T campus into the Chicago region's first “Metroburb,” modeled after its successful NJ version.
Plans for the site, which are still indefinite, are expected to include commercial and industrial repurposing as well as potential institutional, educational and residential components.
Real estate veterans and entrepreneurs Christian Dalzell and Mukang Cho have launched Counter Capital Management, LLC, which will be co-headquartered in Boca Raton and Philadelphia.