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Industrial Real Estate Booms as Brokerages Try to Keep Up

Industrial Real Estate Booms as Brokerages Try to Keep Up
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

Industrial Real Estate Booms as Brokerages Try to Keep Up

Industrial Real Estate Booms as Brokerages Try to Keep Up
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

Kimco sells two warehouses for $108M | Real Estate Weekly

Share Westcore, a West Coast industrial real estate a firm, has acquired a portfolio of two distribution warehouses in California for a combined total of more than 1.4 million square-feet of space. Westcore acquired the properties, located at 2801 West Ave. H in Lancaster (pictured top) and 1744 East Beamer St. in Woodland, from Jericho, New York-based Kimco Realty Corp. for $108 million. Both buildings are fully leased to Rite Aid with 20-year leases. The acquisition further expands Westcore’s growing industrial portfolio, which spans 13 states and more than 14.5 million square feet.   “Increased tenant demand and lack of industrial supply in the Greater Los Angeles and Inland Empire regions has accelerated industrial warehouse needs in emerging markets such as Lancaster,” said Westcore Managing Director Hack Adams, who oversaw the Lancaster acquisition. “Equally compelling is the fact that the underlying real estate is highly functional. It features generous

Xebec Sells Amazon Warehouse in Chatsworth for $74 Million | San Fernando Valley Business Journal

Chatsworth warehouse A 221,842-square-foot industrial facility leased by Amazon.com Inc. in Chatsworth has sold for $74 million, or roughly $334 per square foot. Intercontinental Real Estate Corp. purchased the distribution building, which is located at 20730 Prairie St., from Xebec Realty Partners. According to a CoStar Group report, the deal was brokered by Darla Longo, Barbara Perrier, Brett Hartzell, Joe Cesta, Rebecca Perlmutter, Eric Cox, Bennett Robinson and Gregg Haly of CBRE on behalf of Xebec Realty Partners while buyer Intercontinental represented itself in the transaction. Xebec acquired the vacant industrial site, currently fully occupied by Amazon on a triple-net lease, in December 2018 for $37 million, or roughly $167 per square foot. Soon after, the developer revitalized the warehouse, completing the work last year.

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