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Rutgers Industrial Centers' prime location and superior highway access drove R&J Warehouse's interest in the 140 Circle Drive North lease opportunity, says Levin Management's Robert Carson.
The Southern California market jumps six spots to rank number 11 in CBRE's 2018 Americas Investor Intentions Survey, which analyzes the top target markets in the nation.
Houston's industrial market remains one of the healthiest in the country, with a vacancy below 6% for eight years, fueled by strong population growth and increased port activity, propelling increasing developments.
The new facility will help bolster trade at the Port of New York and New Jersey and create more than 2,700 new jobs, generated by construction and future tenants.
A three-property portfolio and a separate distribution facility near the DFW Airport, along with a manufacturing and distribution asset located in South Dallas, recently sold to Western-focused buyers.