The small-bay industrial sector makes up more than half of U.S. industrial inventory, yet attracts less than a quarter of new development. That mismatch has intensified competition, driven up pricing, and squeezed margins, forcing investors to rethink how they create returns.
The freight forwarder has signed a long-term sublease for office space, and, in a separate deal, secured a long-term sublease of 75,000 industrial space.
A plan will roll out over the next 15 years to accommodate 4.2 million tons of cargo and an estimated 77 million passengers by 2040.
Planned enhancements include a residential component, an expanded parking garage, and a proposed third office building, which will increase the campus’s total office space to more than 350,000 square feet upon completion.
Business owners across the region are now applying to recover money paid under tariffs that were largely struck down earlier this year. Refunds are expected within 60 to 90 days, assuming no additional court rulings delay the process.