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Private capital's demand for industrial, coupled with the already strong appetite from buyers, has been a contributing factor in the cap rate compression during the last few years, says Moore in this <b>EXCLUSIVE</b>.
The deal for the portfolio secures the Boston-based firm gross proceeds of approximately $113.5 million. The properties are 100% leased to seven tenants. The portfolio was acquired by Exeter Property Group of Conshohocken, PA.
The company announced earlier this year its plan to sell all 26 of its American Golf-owned properties and expects to generate nearly $175 million in capital from the sales.
Spokane offers opportunities for lower costs than most other markets in the region, which is part of the impetus for Rover.com's lease for nearly 30,000 square feet in the renovated Wonder Building.
“Our focus within these zones will be the development of multi-family, industrial and self-storage assets along the I-95 corridor throughout the northeast,” says James Hanson II of The Hampshire Companies
Walnut Creek's central East Bay location, proximity to executive and labor force housing, abundance of retail, and lengthy Bay Area commutes will continue to put a premium on offices near transit stations.