Industrial

The joint venture plans a 312,000-square foot speculative cold storage facility and betting on demand from tenants in the perishable food industry.

While COVID-19's economic impact makes it nearly a given that higher default rates will occur, the economic outlook is a bit rosier than earlier expectations.

Stonelake Capital Partners purchased the 41-acre site from a joint venture between Transwestern and UBS, which is more of a testament to both development quality and tenant creditworthiness.

The 339,000-square-foot industrial portfolio comprises three, fully-leased assets located within the Baltimore-Washington corridor.

While other asset classes are seeing more significant changes in pricing, industrial has remained stable over the last three months.

Long before the Biden announcement, the need for domestic manufacturing was obvious.

Only 19% of property managers in the study reported that rents were being paid on time, while the rest reported that they had tenants who were unable to pay, according to a new report from the National Association of Realtors.

E-commerce sales have surged during the pandemic, driving demand for fulfillment centers and other industrial space.