Strong Consumer Spending and Slowing Inflation
Recent sales data reveals that retail spending has grown year-over-year in most categories across the board, despite higher interest rates. This is an encouraging sign of economic resilience that bodes well for Logistics. Furthermore, the current numbers are more indicative of what we consider sustainable growth, in contrast to the overheated numbers seen in 2021 that contributed to the sharp uptick in inflation.
We’re also seeing signs of inflation decelerating toward target levels.The combination of strong consumer spending (despite higher interest rates) and falling inflation is a welcome sign for the economy as a whole, and indicates positive momentum as we enter the holiday shopping season.
Be sure to check out our featured availabilities listed below, as well as details of our new acquisition in Newark, CA, and a new lease with Lonestar Electric in Grand Prairie, TX.
As always, thank you for being part of our network!
Featured Availabilities
4422 Supply Court, Austin, TX 78744
Total Available: 35,065 SF
336 East D Street, Wilmington, CA 90744
Total Available: 38,038 SF of Land
355 Crooked Hill Road, Brentwood, NY 11717
Total Available: 80,000 SF
Deal News
37580 Filbert Street, Newark, CA 94560
BLP is excited to announce the acquisition of an 84,482 sf warehouse at 37580 Filbert Street in Newark, CA. Located in San Francisco's East Bay, the property offers the ability to service a lucrative trade area between San Francisco and Silicon Valley. The warehouse was built in two phases (2000/2012), featuring 34-40' clear height and is fully leased to Vital Records Control. The property offers close proximity to I-880, which connects San Jose to Oakland, providing convenient access to two major airports and a major sea port within a 25 mile radius. It also boasts excellent access to the Dumbarton Bridge (SR-84) connecting Fremont/Newark to Silicon Valley. Thank you to Mark Geisreiter and Mike Spiro at Newmark for assisting in the transaction.
Leasing News
804 West Shady Grove Rd, Grand Prairie, TX 75050
BLP is excited to announce the execution of an 82,395 sf lease with Lonestar Electric at 804 West Shady Grove Road, Grand Prairie, TX, in the Great Southwest submarket of Dallas.
Thank you to Kurt Griffin, Nathan Orbin and Dalton Knipe of JLL for their assistance in marketing the space for lease, and Mark Miller from NAI Robert Lynn for representing Lonestar Electric.
804 West Shady Grove Road is a 203,430 sf Class A warehouse built in 2022, and currently has 120,495 sf of available space. The remaining vacancy offers modern specs including 32’ clear height, 26 dock doors, 1 drive-in door, 30 trailer parking spaces and 3,375 sf of spec office, in addition to being proximate to DFW International Airport and several major highways.
Click here for more information about 804 West Shady Grove Road and to inquire about current availabilities.
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Bridge Logistics Properties, 1501 Quail Street, Suite 110, Newport Beach, CA 92660, United States