Industrial

In February, US port volumes are projected to be nearly 13% lower when compared with the same period last year and 9.5% lower in March, according to a new Transwestern report.

Gulfstream Aerospace will invest more than $35 million to build a nearly 160,000-square-foot maintenance, repair and overhaul facility at Fort Worth Alliance Airport which will complement its presence at Love Field.

The third-party logistics provider signed the warehouse lease deal with building owner Clarion Partners of New York City.

Boston-based Plymouth Industrial REIT has acquired 1717 West Harvester Road, a 465,940-square-foot industrial facility in West Chicago from a large institutional investor.

The governor's budget supports more than $1.26 billion in direct property tax relief, which includes $276 million for the Homestead Benefit, as well as an increased property tax deduction cap and expanded Senior Freeze eligibility that the governor and legislature enacted in their previous budgets.

Despite 6.4 million square feet in industrial deliveries in 2019, the vacancy rate in Phoenix stayed below 10%.

"There has been increased demand for distribution centers for e-commerce and some food users have seen quite a bit of activity."

Four of the U.S. Whirlpool sites are located in Ohio—Marion, Findlay, Ottawa and Clyde—and one is in Cleveland, TN. Two properties are in Fabriano, Italy.