Industrial Real Estate

Private firm strikes $262M deal for 25-building logistics portfolio in South Florida

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Longpoint has acquired a cluster of industrial-logistics properties totaling 1.4 million square feet...

https://www.freightwaves.com/news/private-firm-strikes-262m-deal-for-25-building-logistics-portfolio-in-south-florida

JLL, Quiet Platforms pioneer flexible rent model, scale fulfillment network

In the first half of 2022, heightened e-commerce demand and limited warehouse supply were the prevailing trends.

Then, in October, Prologis further validated that narrative, reporting that occupancy tightened, more leases commenced, and utilization of space was at the 95th percentile historically during the third quarter. Currently, nationwide industrial vacancy rates are sitting at all-time lows.

All of that activity means tenants have been forced to pay more for space. As of October, Prologis...

https://www.freightwaves.com/news/jll-quiet-platforms-pioneer-flexible-rent-model-scale-fulfillment-network

Warehouse rents near cargo airports skyrocket, report says

A forklift operator picks up pallets in a warehouse.

Rising expectations for fast delivery of high-value products has fueled demand for near-airport warehouses and forced tenants to pay substantial rent premiums compared to other industrial spaces in large metropolitan areas, according to a new report from CBRE. 

The Dallas-based commercial real estate services and investment firm found that average rents for warehouses within a 5-mile radius of major airports are 18.8% higher than the average for the region. The analysis covered the 20 busiest...

https://www.freightwaves.com/news/warehouse-rents-near-cargo-airports-skyrocket-report-says

Spanish billionaire just bet big on US logistics

logistics industrial real estate

U.S. logistics just got its next big investor from abroad.

Spanish billionaire textile tycoon Amancio Ortega, the founder of clothing brands Inditex and Zara, revealed on Tuesday that his family investment company Pontegadea had purchased five logistics warehouses in the U.S. totaling about $722 million, Bloomberg reported. 

Spanish newspaper El Pais reported that the properties are strategically located in five states — Tennessee, South Carolina, Virginia, Pennsylvania and Texas — and rented...

https://www.freightwaves.com/news/spanish-billionaire-just-bet-big-on-us-logistics

Industrial outdoor storage garners more attention, investment

Trailers parked in a yard

A surge in e-commerce activity during the pandemic sent fulfillment providers scrambling to find additional space to meet the need. Warehouse acquisition and build costs have soared alongside rents, which appear poised to see major hikes again this year. While the need for finished space remains high, so does the need for lesser-improved real estate.

Demand for industrial outdoor storage (IOS) is at an all-time high. This subset of the commercial real estate market consists of lots and yards,...

https://www.freightwaves.com/news/industrial-outdoor-storage-garners-more-attention-investment

Prologis taps new chief financial officer

Prologis logistics facility in Houston

Logistics real estate investment trust Prologis Inc. announced Tuesday the retirement of CFO Tom Olinger. The company’s treasurer, Tim Arndt, will succeed Olinger on April 1.

Olinger joined Prologis (NYSE: PLD) in 2011 following the company’s merger with AMB Property Corp., where he was serving as CFO. In his time with Prologis, the company has grown its portfolio from less than 150 million square feet of space to 1 billion. Prologis is now one of the top 100 companies in the S&P 500.

“Tom’s...

https://www.freightwaves.com/news/prologis-taps-new-chief-financial-officer

CBRE Investment snaps up $4.9B global logistics real estate portfolio

CRBE Investment Management, a subsidiary of global real estate company CBRE, is buying $4.9 billion worth of logistics real estate

In one of the largest industrial real estate transactions in history, CBRE Investment Management, the investment arm of CBRE Group, the world’s biggest commercial real estate company, is buying up a $4.9 billion portfolio of logistics properties from Hillwood Investment Properties, a real estate business founded by Ross Perot Jr.

The portfolio, which includes more than 57 real estate assets, comprises over 28 million square feet of warehouse space — about 19 million of them are in the U.S., with...

https://www.freightwaves.com/news/cbre-investment-snaps-up-49b-global-logistics-real-estate-portfolio

Prologis expands training program for logistics workers

New locations will train 10,000 workers

Logistics real estate investment trust Prologis Inc. announced Thursday it was expanding its training program aimed at tackling the growing need for logistics workers.

Through its Community Workforce Initiative (CWI), the San Francisco-based industrial warehouse operator is adding six locations to the training program – Dallas, Chicago, Las Vegas, Atlanta, and Tracy and Long Beach, California.

Through a partnership with JFF, a workforce and educational systems nonprofit, the expansion will allow...

https://www.freightwaves.com/news/prologis-expands-training-program-for-logistics-workers

BNSF clears sites in Texas and Montana for industrial development

A photograph of a BNSF locomotive passing through a forest.

BNSF is seeking companies interested in developing on two industrial sites in Texas and Montana, both of which are adjacent to the railroad.

The Somerville, Texas, site features 103 acres that don’t have any zoning requirements or restrictions. It is east of State Highway 36 and located 20 miles outside of Bryan-College Station in eastern Texas. 

The Fort Peck Tribal Industrial Park in Poplar, Montana, consists of 45 acres zoned for heavy industrial use. The site is north of U.S. Highway 2 and...

https://www.freightwaves.com/news/bnsf-clears-sites-in-texas-and-montana-for-industrial-development

Prologis report details spike in logistics real estate activity

Demand for logistics space surges

Results of a quarterly industrial real estate survey conducted by Prologis (NYSE: PLD) showed a surge in activity in response to “strong retail sales and inventory restocking.”

After steadily increasing from a reading of 56 in the fourth quarter to 59 in the first quarter, Prologis’ Industrial Business Indicator jumped to a late-April reading of 68, “reflecting increased throughput and indicating strong future demand growth,” the report stated.

The 68 reading was the highest level reached on the...

https://s29755.pcdn.co/news/prologis-report-details-spike-in-industrial-real-estate-activity

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