Industrial

Lincoln Rackhouse and Principal Real Estate Investors have sold a 191,000-square-foot data center, 100% leased to a global data center services provider.

CCC will lease a 40,000-square-foot building in Lehigh Valley Industrial Park. The company has pledged to invest at least $9.5 million into the project.

Construction will commence immediately on the speculative project with delivery expected in the second quarter of 2020. LPC is constructing two high p facilities totaling 274,855 square feet.

The developer plans a $53 million three-building industrial project totaling 720,000 square feet.

A new report shows that Phoenix is a top market for new and expanding industrial users.

Developers are less bullish on industrial and multifamily projects three years down the road.

The transaction, reported by NAI James E. Hanson, marks Long Point Realty Partners second acquisition in the Garden State.

For Colliers it means the addition of an established four-person office capital markets team and five veteran industrial brokerage professionals. Colliers will also fold Podolsky’s 32-building, 2.1-million-square-foot property management portfolio into its existing portfolio.