August 2019 News Update
What’s Happening in the Commercial Real Estate Sector?
Shipping Costs Rule the Day:
The cost of shipping goods via truck is coming down, making it more comparable to shipping by train, according to a recent savings index by the Journal of Commerce (JOC). As C-Suite executives focus on paring down transportation costs, this could have an impact on decisions to use intermodals versus trucking to increase efficiency. See this Connect Media story for more.
Dallas Development Boom Continues
A new development boom continues in Dallas as AllianceTexas developer Hillwood plans to build two new speculative industrial buildings in Fort Worth and Northlake. The 810,000 sf building and 460,000 sf building are part of a 2600-acre master-planned industrial park. There are no signs of slowing in this hot Southwest industrial market. See this Bisnow story for more.
Blackstone Group Buys Big in New York City
The Blackstone Group is negotiating the purchase of a portfolio of 11 buildings near JFK Airport from TA Realty, according to Crain’s New York. This follows news that Amazon is looking for millions of square feet of infill space to tap into last mile customers.