Industrial

Patrick Kearney has been responsible for the acquisition, disposition and development of more than 35 million square feet and $8.5 billion of commercial and residential property.

Chicago remains one of the largest data center markets in the nation, boasting the fourth-largest capacity in the nation at 243 MW, says CBRE.

“Building a stronger, fairer New Jersey economy requires taking an innovative approach to community revitalization that acknowledges economic prosperity and environmental sustainability are not competing goals but mutually reinforcing ideals,” says Governor Phil Murphy.

Late last month, Bridge Development Partners acquired the 304,428-square-foot complex from Sherm Realty Corp., an affiliate of Weston, FL-based Apotex Corp. for $38 million.

Developers should focus less on the benefit from the opportunity zone incentives and more on the overall return from investing in the property, says Jeff Monge, managing partner of Monge Capital.

Industrial rents in the San Diego market grew 10.2% in 2018 and are up nearly 30% over the prior peak in 2007.

Investors have been active in Sacramento during the last year because of low vacancy, high demand, lack of new construction and affordable developable land, resulted in a spec development spike.

Breweries are taking up industrial and retail space in the Inland Empire's Riverside market, growing 5% in 2018.