Logistics’ Primary Drivers Remain Strong
Logistics continues to outpace all other CRE asset classes as we head into the second month of 2023, with warehouse and flex space in particular continuing to show strong price growth.
The same familiar drivers of growth continue to push the industrial market upward. These factors include robust online retail sales, corporate supply chain reorganization and the accelerated reshoring of U.S. manufacturing operations. Construction, machinery, and materials are also helping to bolster the industrial sector due to the robust commercial development pipeline and strong demand for residential construction.
While the logistics sector is strong overall, the brightest outlook continues to bein supply-constrained urban infill assets—the core of BLP’s development and acquisition strategy. We continue to explore the best opportunities in these markets while we rapidly lease and stabilize our current portfolio.
As always, thank you for being part of our network!
DEAL NEWS
BLP Files Plans for Gateway @ 429
BLP is excited to announce the acquisition of 5 Plant Road in Teterboro/Hasbrouck Heights, NJ. The 196,700 SF facility features 18'-22' clear heights, 19 total loading doors, truck courts over 100', and half an acre of outdoor storage yard.
Thank you to Leo Josephs and Joshua Meisner of Leo Josephs & Company, Inc. for their assistance in the closing of this transaction.
For leasing inquiries, please reach out to Chris Todd and Scott Perkins of NAI Hanson or Hank Klehm of BLP.
6550 Fulton Industrial Blvd SW, Atlanta
BLP is excited to announce the acquisition of 33.35 acres of developable land at 6550 Fulton Industrial Blvd SW in Atlanta, GA. The subject site supports the construction of a 136,080 SF, front-load warehouse with a 32' clear height and 38 loading positions.
Thank you to McNeill Stokes, Nathan Anderson, and Matt Bentley of NAI Brannen Goddard for their assistance in closing this transaction.
Community Engagement
Second Harvest Food Bank of Orange County
BLP West volunteered this month with the Second Harvest Food Bank of Orange County. The nonprofit works to end hunger and food insecurity in Orange County by partnering with other local nonprofits, providing them with food for those in need. BLP sorted through fruits and vegetables ensuring good quality, and helped with the boxing and packaging of products to be sent out.
Upcoming Insights
A preview of what's coming in BLP's social media accounts. Follow us on LinkedIn, Facebook, Twitter and Instagram to see more.
More evidence of re-shoring's acceleration: Construction put-in-place for manufacturing has taken a dramatic upturn compared to non-manufacturing put-in-place over the past two years.
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Bridge Logistics Properties, 1501 Quail Street, Suite 110, Newport Beach, CA 92660, United States