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The 215,221-square-foot project is being developed by Blackstone Real Estate's US-based industrial real estate operating portfolio company, Link Logistics, and the Hampshire Real Estate Cos.
Adkisson Group has always anticipated demand for manufacturing at a rental rate well below new construction pricing, and recently purchased a 158,700-square-foot campus in Northwest Houston.
The most disruptive issues included construction shutdown orders, new procedures to enable physical distancing on jobsites, and delays of materials, fixtures and equipment, according to JLL's H2 2020 Construction Outlook.
The promising US economic recovery is becoming increasingly fragile, with strong retail sales
and home sales on the plus side versus weakening consumer confidence and delayed federal stimulus efforts on the downside.