Industrial

Governor Murphy nominees Janine G. Bauer and Balpreet Grewal Virk, upon confirmation from the New Jersey Senate, will collectively serve as New Jersey's representatives, along with Jerry Zaro, the current chairman of the Gateway Program Development Corp.

The industrial market in Southern California is so strong that minor swings in supply with have little impact.

"Today is a historic day for Chicago transit as we begin the largest project in CTA history to modernize CTA rail service for the next century and rebuild the Red Line, the CTA's busiest line," said Chicago Mayor Lori Lightfoot.

Construction on the two-building complex will begin this month and should be completed by June 2020, according to the Minneapolis-headquartered firm.

Funding totaling $87 million was recently secured on behalf of SROA Capital for the refinancing of a 36-property portfolio of self-storage facilities spanning three states: Florida, Kentucky and Ohio.

The development is a joint venture with 1026 Real Estate Investors, LLC, a New York City-based real estate investment firm headed by principal, Douglas Oliver. The facility will be professionally managed by CubeSmart Self Storage.

In the last 90 days, CapRock has acquired eight industrial assets in California, Nevada and Arizona.

"Clearly this is a pivotal event, not only for our company, but also for the competitive landscape in our region," says David Grove, managing director at Lee & Associates.