Industrial

Millenia Smart Park will feature small and large drone aerial testing, marine drone testing and an autonomous vehicle testing track.

The property contains a former General Motors facility, which the firm plans to demolish to build several office buildings.

In partnership with PIDC, the firms will exclusively develop the project, commencing with a $400 million phase one, which will comprise life sciences, residential and hospitality space.

Average cap rates for Class A assets declined by 33 basis points year over year this Spring.

The firm provides $47 million for transactions in Chicago and San Diego within the new program, which provides rescue capital, mezzanine and preferred equity.

A new report names Los Angeles, San Diego, Las Vegas and Phoenix as four of the top five self-storage markets in the country.

The firm acquired the recently-repositioned, 130,565-square-foot, class A facility on behalf of one of its institutional clients.

With proximity to San Francisco and Silicon Valley, Emeryville is attracting biotech and life science companies looking for quality, available space.