Industrial

One of the largest city expenditures will be $60 million from the School Construction Authority that is earmarked for the construction of a new school in the Court Square area.

The building is already fully leased to four tenants.

The move comes at a key time in the industrial sector, as many firms completely revamp their supply chains.

This was an off-market transaction from a seller also occupying the building at 3689 Industrial Blvd. but it was not the right fit, thus facilitating the opportunity for Bendetti Company to acquire the asset.

In central Pennsylvania's I-78/I-81 corridor, the 2018 vacancy rate has been about 6.1%, and net absorption is nearly 12.5 million square feet, according to Mike Hess, SIOR, of CBRE, who chaired the panel on the state of the submarkets.

Crow Holdings Industrial purchased 45 acres within Greens Crossing Business Park for the development of the 530,000-square-foot industrial project, Layne Crossing, which will support a number of industries.

President Trump may sign an executive order giving opportunity zone investments additional preferences in federal loan and grant funding, says Christopher Coes, vice president of land use and development, Smart Growth America.

Recent manufacturing deals solidify the presence of two Euro-based corporations in America's heartland. Impending trade restrictions and tariffs helped seal the deals, but it was the inherent strength of the Chicago metro industrial market that sealed the deals.