Updated: Aug 4
Looking at the month ahead
The industrial sector is experiencing some cap rate expansion, which is not unexpected given the uncertainty in the economic environment and the rising cost of capital. But in virtually every other way, the metrics continue to look stellar for logistics real estate which continues to have the lowest vacancy rates in CRE.
We have two new infill acquisitions to announce: one in DFW and another in the Seattle area (more on that below). And for those of you following us on social media, in the coming weeks we’ll be discussing the future of e-commerce demand and examining how the digitization of the economy and work-from-home supports the growth of the logistics real estate sector.
As always, thank you for being part of our network! Read on below for our latest deal news, market commentary, and other insights from BLP.
Modern Class A Asset in DFW Infill Submarket
Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group (NYSE:BRDG), is pleased to announce the acquisition of a 203,430 square foot Class A building in DFW’s infill Great Southwest (GSW) submarket. This recently delivered, highly functional asset is situated on 12 acres at 804 W Shady Grove Rd, Grand Prairie, TX. The property offers modern specs including a 32’ clear height,180’ truck court, 42 high dock doors, 2 ramps, 49 trailer storage spaces, and a 0.45parking ratio.
Big thanks to Nathan Orbin and Kurt Griffin at Cushman & Wakefield for brokering the deal.
Strategically located warehouse in Seattle submarket
Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group (NYSE:BRDG), is pleased to announce the acquisition of a second-generation Class A building in the Kent Valley submarket of Seattle. The site is strategically located along SR-167 in the Riverbend Commerce Park, 10-miles south of SeaTac Airport and directly between the Ports of Seattle and Tacoma. Built in 2000, the 35,800 SF, two-tenant building features a 24’ warehouse clear height, ESFR sprinklers, 10 dock high positions and two grade level doors.
Big thanks to our partner Townsend Group, and to Thad Mallory, Taylor Hoff andCam Warren of Newmark for brokering the deal.
A preview of what’s coming in BLP’s social media accounts. Follow us on LinkedIn, Facebook, Twitter and Instagram to see more.
“Can e-commerce possibly keep up its explosive growth?”
Why BLP believes that e-commerce has many years of significant growth ahead.
Pet food sales on the rise
And what this says about the digitization of the economy.
Industrial has the lowest vacancies in CRE
Visualizing the sky-high demand for industrial and logistics real estate.
Work-from-home is here to stay
How telecommuting supports ecommerce and logistics real estate demand.
Bridge Logistics Properties, 1501 Quail Street, Suite 110, Newport Beach, CA 92660, United States