Industrial

Huge class A buildings occupied by the likes of Amazon have popped up all over, but fewer groups are working on the smaller buildings needed to complete deliveries.

Speculative projects are waiting to sign new tenants in anticipation of rapidly increasing rents, thanks to a sub 2% vacancy rate.

This purchase, from FRP Holdings, is the second industrial portfolio acquisition Blackstone has made this month.

Investors ranked Houston as a top five target for investment among US metros, whereby 88% of investors plan to either maintain or increase spending in 2018—up from 83% in 2017.

This year the company has also closed a 2.3-million square foot sale leaseback with BlueLinx and began construction on the Elk Grove Technology Park.

A roundup of the latest leases, sales and other transactions in the Northeast middle markets.

“This is a building designed for today's e-commerce user.”

The latest deals, personnel moves and trends in the Midwest.