Globest Sectors

But just try telling the appraisers and many lenders that.

The new fund Driftwood QOF has already secured two opportunity zone investments—a joint venture for the development of a 218-key dual branded hotel Home 2/Tru by Hilton in Fort Lauderdale, and the redevelopment of a 10-story office building in Wilmington, DE into a 136-room IHG-branded urban hotel.

The brokerage firm in its first quarter 2019 market snapshot report notes that availability and vacancy are near all-time lows and rental rates continue to increase at a 3.5%-4% annual rate.

Typically the first quarter can be on the slower side with activity picking up in the second and third quarters, which is expected this year with expectations that several large deals have already or are about to be signed.

The firm, which is comprised of three hospitals— Edward Hospital, Elmhurst Hospital and Linden Oaks Behavioral Health, will relocate to 4201 Winfield Road in November.

Columbia Distributing's new Portland metro area warehouse, an approximately 530,000-square-foot facility located at SE 1st Ave. and S. Walnut in Canby, is set for completion in fall 2020.

The facility at 433 Murray Hill Parkway will help fulfill the increase in demand from existing customers and provide global connectivity from the strategic location close to New York City.

Developer the Statesmen Group plans to break ground on the luxury condo project later this week.