Industrial

The Loketch Group will complete a like-kind exchange with the proceeds of the sale primarily with development opportunities in Brooklyn.

Strong tenant demand has also caused rents to rise, with the overall average rent higher by 7.8% year-over-year, including 10 submarkets that record rent increases of more than 10% during that period.

The firm has acquired 53 acres for the 777,000SF, three-building industrial park in an Atlanta Northwest submarket.

The new facility will be constructed by the Hillwood Group of Dallas and Chapman Properties of Leetsdale, PA. Amazon has committed to investing more than $30 million into the project, state officials note.

As the industry continues to iron out the regulatory process, investment interest should grow.

The industrial investor partners with an institutional client to purchase the 226,000-square-foot distribution center.

The Laurel Park Commerce Center sells for $200 per square foot, the highest price in the South Bay market.

The 13-building property totals nearly 900,000 square feet, making it the firm's largest acquisition to date.