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“Demand for warehouse space in New Jersey continues to be strong, particularly for modern properties in close proximity to the New York metropolitan area,” says Ben Rosen, Duke's vice president of leasing and development.
Industrial is expected to continue to prosper as the economic outlook remains optimistic, with both crude oil prices and the rig count showing steady improvement year-over-year, up 25.6% and 17.3%.
Xebec's approach in Lakeland is a regional distribution strategy, which complements its focus on intermodal logistics, along with its national plan to grow its Texas asset base for long-distance transport.
The transaction involves not only the building but the entire 72.5-acre site that includes a 12.3-acre container storage area, as well as a future development site covering 24.2-acres.
Unless a major geopolitical situation arises, it's hard to fathom demand becoming short-circuited for industrial space in Texas, says Robert Kramp in the second of a two-part <b>EXCLUSIVE</b>.
In this <b>EXCLUSIVE</b>, CBRE's Kramp observes that more than 71 million square feet of industrial was delivered to market in DFW since 2015 and another 71 million square feet was delivered in two years.