The New York-based investment giant sold the 115,741-square-foot industrial building at 13801 Northwest 112th Avenue to Boxer US, a Miami-based entity incorporated in May. The deal breaks down to $374 per square foot.
Rising development costs, whether from high land prices or increased construction costs, has led investors to shift away from evaluating sites based on historical lease prices and instead betting on the potential for rent growth that could be spurred by a lack of supply.
Supply-chain strategies remain center stage for industrial real estate developers, investors and advisers. At I.CON East, NAIOP’s annual East Coast industrial conference, experts outlined new best practices and answers to continuing challenges.