JV Breaks Ground on $250M Phoenix Campus
A rendering of Park Algodon. Image courtesy of Creation and Clarion Partners A joint venture of Creation and Clarion Partners…
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A rendering of Park Algodon. Image courtesy of Creation and Clarion Partners A joint venture of Creation and Clarion Partners…
East Bay Logistics will use the space for the distribution of coffee, sugar and cocoa products for California markets. Image…
The 1961-completed building underwent major renovations in 2008. Image courtesy of Waterman Interests Waterman Interests has entered a partnership with…
The anticipated wave of office distress hasn’t fully materialized, but the latest CommercialEdge office report indicates many markets are at…
Will Frame Susan Bloomfield and Ross Ford Whether or not artificial intelligence will make sweeping changes to the brokerage industry…
It’s an election year, but that isn’t the only thing coming out of D.C. those in commercial real estate should…
Greenfield 27 consists of three Class A industrial facilities. Image courtesy of Cushman & Wakefield Wigeon Capital has sold Greenfield…
Jewel-Osco is the anchor tenant at Townes Crossing. Image courtesy of First National Realty Partners First National Realty Partners has…
Discovery Corporate Center’s Building D comprises 84,277 square feet. Image courtesy of Drawbridge Realty Drawbridge Realty has signed a 16,485-square-foot…
Orr Road Business Center will include two buildings. Image courtesy of Lovett Industrial Lovett Industrial has broken ground on Orr…
Nicco Lupo Institutional capital flows (or lack thereof) have been a quiet driver for a dislocated transaction market during the…
The data center industry is capital-intensive, and liquidity is as critical to supply chains as technologies such as generators and…
Managing cold storage facilities, such as this one operated by BLT, calls for heightened attention to maintenance. Photo courtesy of…
Rockefeller Group Logistics Center at Carneys Point will consist of two Class A industrial facilities. Image courtesy of Rockefeller Group…
The survey’s Composite Sentiment Index Scores, at the highest average in two years. Chart courtesy of NAIOP A majority of…
SL Industrial Partners broke ground on Interstate Crossroads Logistics Center in 2021. Image courtesy of CBRE In its first South…
Park Center’s fourth phase will feature a 175-key hotel, 300 residential units, 22,000 square feet of retail and 300,000 square…
The 216-acre property also features an ancillary warehouse, distribution center, office space and cafeterias, as well as a showroom. Image…
BSN Medical Distribution Facility was originally built in 2001 and upgraded in 2009. Image courtesy of JLL Diamond Properties has…
The 3351 E. Philadelphia St. property in Ontario, Calif., is a food-grade warehouse completed in 1998. Image courtesy of CommercialEdge…
Another sector is turning a corner. Life science demand was up 6.3 percent across the U.S. in the first quarter.…
Jonathan Hipp Commercial real estate has been in tight circumstances since interest rates started jumping more than a year ago.…
Urban District 35 consists of four Class A buildings ranging between 77,830 and 134,887 square feet. Image courtesy of Urban…
A new survey from JLL examines, among other issues, the struggle for tech talent, how companies are working to optimize…
Forward-looking indicators favor prime and alternative assets, according to Parsons. Image courtesy of RICS Commercial real estate sentiment across the…
5355 Medpace Way will be demolished and replaced by a nine-story office tower. Photo courtesy of CommercialEdge Medpace, a publicly…
The outpatient facility was fully occupied at the time of the sale. Image courtesy of Anchor Health Properties Anchor Health…
A total of 18 tenants lease space across the eight buildings, the portfolio being 91 percent occupied at the time…
The tower rises in South End close to a plethora of dining facilities. Image courtesy of Stiles The joint venture…
Supply chain issues from 2021-2022 have eased, but recent incidents in Baltimore and the Panama Canal underline ongoing challenges, according…
AZ Development-owned 111 Bain St. houses one of the two coworking locations. Image courtesy of CommercialEdge THRIVE | Coworking has…
Cummins Inc., a Columbus, Ind.,-based global power solutions company, has leased a 1.1 million-square-foot recently built Class A building at…
What does the second half of the year hold for CRE? At a time of mixed signals from the economy…
Microsoft Corp. will undertake a $3.3 billion investment package intended to make Southeast Wisconsin “a hub for AI-powered economic activity,…
The 220,380-square-foot property features 14 dock-high loading doors and 11 drive-in doors, as well as 130-foot truck courts. Image courtesy…
Weis Markets will anchor Bayberry Town Center with a 64,000-square-foot store. Image courtesy of Blenheim Group Blenheim Group has broken…
Engaging with tenants about sustainability and energy efficiency is becoming a key priority in the commercial real estate sector, reflecting…
Source: DLA Piper Real Estate State of the Market Caution may still be the watchword in commercial real estate, but…
The 410 has nearly 35,000 square feet of spec suites ready for immediate occupancy. Image courtesy of Cress Capital Cress…
It’s probably not you. Cellular coverage and Wi-Fi in office buildings are in high demand, and that could be impacting…
The other day, I had a discussion with leaders from one of our clients, and we had a good laugh…
Offices have evolved into much more than cubicles and coffee machines. Today, owners, and designers are pushing the envelope on…
The I-215 Interchange, in Las Vegas, Nev. Image courtesy of Cushman & Wakefield Building E, The Cubes at Glendale, in…
1899 L St. NW. The new owner plans to further renovate the building’s amenities and infrastructure. Image courtesy of Stream…
The Cochrane Technology Center, now the largest development of its kind in Silicon Valley. Photo courtesy of Trammell Crow Co.…
Dalfen Industrial’s purchase in Hayward, Calif. Image courtesy of Dalfen Industrial Dalfen Industrial has acquired five industrial outdoor storage sites…
The May Digital Issue of CPE Is Now Available! From the Editor Feature. Image courtesy of Current Real Estate Advisors.…
Jessica Fiur, Editor-in-Chief I used to be so jealous of my brother. He works in tech—app development, to be exact.…
Nearly three decades after the advent of online shopping, the post-pandemic work landscape has accelerated long-underway changes in retail. Responding…
Building One of Goodman Commerce Center Long Beach, being built at the site of a former Boeing C-17 factory. Image…
Source: PropertyShark, a Yardi Systems Inc. company Sale Price: $23,113,670 The 67,197-square-foot retail property changed hands in a bankruptcy auction…
A new office tower will rise in Water Street Tampa. Image courtesy of Strategic Property Partners Strategic Property Partners has…
Developers broke ground on the 140,000-square-foot manufacturing facility in 2022. Image courtesy of Hughes Network Systems Hughes Network System, an…
619 Ponce, with a portion of the Ponce City Market visible to the left. Image courtesy of Jamestown Jamestown has…
The building at 1520 First Ave. rises 30 stories or 449 feet. Rendering courtesy of Lendlease The joint venture of…
Lionstone Investments has sold Muse Shops at Midtown, a 112,162-square-foot value-add retail center located in Dallas. Morgan Stanley purchased the…
EQT Exeter will rebrand the 641,906-square-foot facility as I-10 Gateway. Image courtesy of Cushman & Wakefield EQT Exeter has acquired…
Perkins + Will designed the 368,258-square-foot Science Square Labs. Image courtesy of Trammell Crow Co. Trammell Crow Co., in partnership…
Echo Park 303 is a 40-acre, two-building industrial campus within the Loop 303 corridor. Image courtesy of LGE Design Build…
Wilks Development is set to break ground this month on the $550 million first phase of Firefly Park, a 242-acre…
Tom Whitesell, head of Kennedy Wilson’s debt investment platform. Construction financing carries a higher risk profile than most other loan…
Construction on the project began in 2021. Image courtesy of PMB and Providence St. Joseph Hospital PMB, in partnership with…
860 Broadway used to be one of Andy Warhol’s studios. Image courtesy of CommercialEdge Flexible office space provider Industrious has…
Carroll Industrial Development has tapped Cushman & Wakefield to lease Southeast 85 PowerPlex, its master-planned industrial development in Greensboro, N.C.,…
Lew Sichelman The repo man is finding more work in the commercial real estate industry, two recent reports show. Commercial…
In response to concerns raised by federal and state antitrust regulators, The Kroger Co. and Albertsons Cos. Inc. have amended…
Marta Schantz, Co-Executive Director of ULI’s Randall Lewis Center for Sustainability in Real Estate. Today is the 55th Earth Day!…
Desco Group and Affinius Capital have sold Collierville Crossing, a 94,331-square-foot retail center in Collierville, Tenn., with the assistance of…
FUSE Workspace will open a new flex office and coworking location in Austin, at 2105 E. Martin Luther King Jr.…
Building 2 of Rickenbacker Exchange at Commercial Point, which is fully leased to HanesBrands. Image courtesy of Colliers VanTrust Real…
Windsor Commerce Park is Lincoln Property Co.’s first development in Nevada. All images courtesy of Lincoln Property Co. Windsor Commerce…
Two separate buyers acquired the other two buildings at the 1.3 million-square-foot industrial campus. Image courtesy of Cushman & Wakefield…
Railinc will move more than 300 employees and contractors to 11000 Weston Parkway in early 2025. Image courtesy of JLL…
Ventana Medical Plaza also includes 4,200 square feet of ground-floor retail. Image courtesy of CommercialEdge Tristar Realty Group has secured…
Levit Green’s Phase I totals 290,000 square feet. Image courtesy of Hines Hines and its partners 2ML Real Estate Interests…
The 400,000-square-foot industrial development will feature a cross-dock facility and a rear-load warehouse. Image courtesy of Logistics Property Co. Logistics…
280 Park Ave., which had a $1.075 billion loan maturity extended by two years. Image courtesy of CommercialEdge SL Green…
Parkside Uptown is scheduled for delivery in 2027. Image courtesy of KDC A joint venture between Pacific Elm Properties and…
Rendering of the Bioforge Marshall plant, which is currently under construction. Image courtesy of Solugen Climate technology company Solugen has…
The Equinix SV12x International Business Exchange™ in San Jose, Calif. Image courtesy of Equinix Inc. PGIM Real Estate and Equinix…
The campus came online in two phases, between 1995 and 2001. Image courtesy of CommercialEdge IRA Capital has acquired a…
The groundbreaking ceremony at Central Commerce Center. Image courtesy of Colliers ViaWest Group, together with Clarion Partners, has commenced construction…
Hudson’s Site rises 681 feet in downtown Detroit. Image courtesy of Bedrock Bedrock has topped out The Tower of the…
Jun Ho Pok of IGIS Neovalue Asset Management, Kevin Davenport of Swire Properties and Megumi Brod of The Rockefeller Group…
The tower at 1133 Ave. of the Americas rises 45 stories in Manhattan’s Plaza District. Image by Vanni Archive Architectural…
Marketplace at Six Corners comprises two buildings on some 10 acres. Image courtesy of Mid-America Real Estate Corp. DRA Advisors…
Boynton Logistics Center features a total of 34 dock-high loading doors, 12 truck wells and four drive-in doors. Image courtesy…
Whitestone REIT has purchased Scottsdale Commons, a 69,482-square-foot shopping center in Scottsdale, Ariz. C&H Development sold the asset for $22.2 million,…
425 Park Ave. Image courtesy of Alan Schindler In one of the largest deals of its kind this year, L&L…
Greystone at Town Center last traded in 2006. Image courtesy of Cushman & Wakefield Texas-based Woodside Capital Partners acquired Greystone…
ULI’s Spring Meeting is being held in New York. Image by Fotios Tsarouhis The Urban Land Institute’s latest economic forecast,…
Harbor Group International has completed a $128 million restoration and improvement program at 51 W. 52nd St., also known as…
Building 4A is the most recently delivered property within the 1,150-acre industrial park. Image courtesy of Stonemont Financial Group Stonemont…
The Phoenix office market maintained its position as one of the nation’s leaders in investment, with its active sales activity…
The 10-acre Tristar Business Park will feature two industrial building totaling 173,680 square feet. Image courtesy of Colliers A joint…
Peachtree Ridge is a 159,962-square-foot office building currently 64 percent leased. Image courtesy of Transwestern OA Development has signed a…
Mercado at Scottsdale Ranch comprises six buildings spread across 9 acres. Image courtesy of Newmark Mercado at Scottsdale Ranch, a…
Belleville Logistics, which will total 204,407 square feet upon completion. Image courtesy of PCCP LLC Lincoln Equities Group has closed…
Denton Exchange 35 will rise at the conflux of interstates 35 East and 35 West. Image courtesy of Stream Realty…
Brookfield Properties has broken ground on Camelback 303 Logistics Center, a 616,100-square-foot industrial development in Goodyear, Ariz. Each building at…
The SEC finalized its long-awaited Climate Disclosure Rules on March 6. On April 4, the agency agreed to hold off…
KBS has sold Clay Crossing Business Center, a 222,750-square-foot light industrial facility in Houston. HPI Holdings II LLC purchased the…
The April Digital Issue of CPE Is Now Available! From the Editor Feature. Image courtesy of Lawrence Group Trend. Image…
This year’s largest SASB office CMBS loan was $475 million for Warner Bros. Studios in Burbank, Calif. Image courtesy of…
Lincoln Property Co. has obtained a $65 million loan for the refinancing of Wateridge, a 585,580-square-foot office and retail campus…
eco-friendly options in Belize real estate Belize real estate has a lot to offer, from a rustic jungle cabin in…
Despite facing hurdles such as elevated interest rates and persistent challenges with construction materials and labor shortages, the office sector…
WeWork is on track to complete restructuring and exit Chapter 11 bankruptcy protection by May 31, the company said today.…
Over the past decades, the retail investment sector has undergone significant evolution, driven by economic downturns, technological advancements, e-commerce growth…
Construction Resources is opening a design center at the repurposed Westside Paper in Atlanta in 2025. Image courtesy of Westbridge…
The lobby at Tacoma Centre, a 200,000-square-foot office tower in Tacoma, Wash. Many of the building’s meeting and amenity spaces…
Source: PropertyShark, a Yardi Systems Inc. company Sale Price: $80,000,000 Madison Realty Capital acquired the Flushing Landmark Building, a 100,500-square-foot,…
Brennan Investment Group was recently involved in the acquisition of a 1.3 million-square-foot portfolio, as part of its expansion in…
Cooper Street Plaza in Arlington, Texas, a retail center that Silver Star Properties REIT sold in 2023. Image courtesy of…
Source: PropertyShark, a Yardi Systems Inc. company Source: PropertyShark, a Yardi Systems Inc. company Source: PropertyShark, a Yardi Systems Inc.…
The Irwindale, Calif., facility that Rexford Industrial acquired last October for $120 million. Image courtesy of CommercialEdge The Irwindale, Calif.,…
A joint venture of Ryan Cos., and ESI Ventures has commenced construction on Surprise 34, a two-building industrial campus totaling…
Frayer Enterprises has sold Airport Square, a 187,252-square-foot shopping center in Toledo, Ohio. A private investor from Las Vegas acquired…
With conversions a growing trend today, transforming an old office building into a modern life science space that can cater…
Driven by nearly $49 billion in funding for new technologies like generative AI over the past three years, the San…
Office utilization and remote work rates vary among different markets, indicating that the impact on the office sector differs across…
Sunbelt Investment Holdings Inc. has broken ground on Buckeye Commons, a 410,000-square-foot retail center in Buckeye, Ariz. Buckeye Commons will…
The Kelly-Springfield Building was converted to office in 2019. Image courtesy of Kidder Matthews The Kelly-Springfield Building was converted to…
The building features 16,105-square-foot average floorplates, a fitness center and some 10,500 square feet of retail space. Image courtesy of…
Amazon has leased Building B at The Cubes at Glendale in Phoenix’ West Valley. Image courtesy of Cushman & Wakefield…
The six-story, 248,000-square foot Bravo Building will come online in mid-2025. Image courtesy of Shorenstein Properties LLC The six-story, 248,000-square…
The newly acquired Marketplace at Seminole Towne Center, anchored by a diverse array of tenants. Image courtesy of CTO Realty…
For those in CRE, does sustainability play a major role in doing business today? The CPE Executive Council shares their…
J. Wickham Zimmerman Water features are an integral part of many commercial properties, including retail centers, corporate campuses, and mixed-use…
Oak Forest Commons features a vacant space formerly occupied by Food 4 Less. Image courtesy of Mid-America Real Estate Corp.…
Designed by Foster + Partners, The Star aims to attract Hollywood’s top content creators. Image courtesy of The Star LLC…
The new owner plans to implement deferred maintenance programs throughout the entire portfolio. Image courtesy of CenterSquare Investment Management and…
Arundel Plaza comprises six buildings spread on some 24 acres. Image courtesy of JLL Capital Markets Arundel Plaza comprises six…
Today’s Federal Reserve Bank interest rate decision comes with little surprise: Benchmark rates are set to remain at a range…
Marshalls is one of the tenants at Lake Worth Marketplace. Image courtesy of JLL Marshalls is one of the tenants…
SCHOTT expects to create around 400 permanent jobs once the Wilson manufacturing facility comes online. Image courtesy of SCHOTT Pharma…
Upon completion, Torrey View will feature three life science buildings. Image courtesy of Breakthrough Properties Upon completion, Torrey View will…
Williams Equities uses a hierarchy of needs for evaluating older buildings on behalf of their clients, according to Managing Principal…
Mark Rose, CEO of Avison Young. Image courtesy of Avison Young Mark Rose, CEO of Avison Young. Image courtesy of…
KPR Centers has purchased a 1.5 million-square-foot retail portfolio in Florida and the Midwest for $180 million. Kimco Realty Corp.…
Rendering of the Medley project in Johns Creek, Ga. Image courtesy of Toro Development Co. Toro Development Co. is moving…
Upon completion, RITHM could encompass more than 7 million square feet of mixed-use space. Image courtesy of JLL and RD…
Radom Capital has received a $76 million loan for the refinancing of Montrose Collective, a 169,514-square-foot shopping center in Houston,…
The 13 facilities came online between 1987 and 1996 and measure 298,324 square feet. Image courtesy of Gantry The 13…
“The trend of retailers analyzing their store footprint and closing underperforming locations is quite common and is likely to continue…
The facility at 1000 Coopertown Road is some 14 miles from the Port of Philadelphia. Image courtesy of RLS Logistics…
Silicon Valley Bank’s new San Francisco office space at 222 Second St. Image courtesy of Silicon Valley Bank Silicon Valley…
The office campus will feature two 425,000-square-foot buildings. Image courtesy of Corgan The office campus will feature two 425,000-square-foot buildings.…
After starting his career as an engineer, Josh Poag switched gears and went on to lead the family business. Photo…
The medical office building at 227 Centerville Road came online in 1998. Image courtesy of CommercialEdge The medical office building…
Most survey respondents believe that cap rates have peaked. Infographic courtesy of CBRE Most survey respondents believe that cap rates…
One of the medical office buildings in Franklin, Wis., acquired through the fund. Image courtesy of CommercialEdge One of the…
9 W. 57th St. rises 50 stories, spanning nearly 1.7 million square feet. Image courtesy of CommercialEdge 9 W. 57th…
The industrial property at 4800 Dahlia St. was last upgraded in 2021. Image courtesy of CommercialEdge The industrial property at…
2PICW LLC has purchased Willow Oak Plaza, a 163,090-square-foot shopping center in Waynesboro, Va. Big V Property Group sold the…
2515 McKinney was previously known as Chateau Plaza. Image courtesy of CommercialEdge 2515 McKinney was previously known as Chateau Plaza.…
PMAT has sold Downers Park Plaza, a 124,005-square-foot shopping center in Downers Grove, Ill. Broder & Sachse Real Estate purchased…
The Class A property at 2632 E. Chambers St. is within the Sky Harbor submarket. Image courtesy of Cushman &…
Lisa Pendergast At the CREFC High-Yield, Distressed Assets, & Servicing Conference, there was talk of forbearance and refinancing risk. But…
Litex Industries is the sole tenant at 4400 Diplomacy Road. Image courtesy of Cushman & Wakefield Litex Industries is the…
Image by Nuthawut Somsuk/iStockphoto.com In this monthly series, Commercial Property Executive sits down with experts from commercial real estate service…
Research Triangle Logistics Park will be within a 200-mile radius of three major shipping ports. Image courtesy of Avison Young…
Dalfen Industrial has signed a 101,000-square-foot lease at its Turnpike Logistics Center in West Palm Beach, Fla., with National Millwork.…
Rendering of Kilroy Realty’s 3 million-square-foot project . Image courtesy of Kilroy Realty Rendering of Kilroy Realty’s 3 million-square-foot project…
An aerial view of the Johnson Space Center, with the undeveloped portion visible to the bottom-left. Image courtesy of NASA…
Las Olas Centre I was completed in 1997 and is LEED Gold certified. Image courtesy of Stream Realty Partners Las…
Menlo Equities upgraded the amenity package at 4807 Stonecroft Blvd. Image courtesy of Stream Realty Partners Menlo Equities upgraded the…
Josh Stoffregen-Foye, global head of media relations for CBRE Investment Management moderates a discussion between Richard Barkham, Shane Taylor, Larissa…
North River Leerink, a joint venture between North River Co., and Leerink Development, has landed a 76,000-square-foot lease at 100…
The 35,000-square-foot medical office building is less than 16 miles from downtown Richmond. Image courtesy of Montecito Medical The 35,000-square-foot…
Breana Wheeler Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we…
Diamond Hill Distribution features activatable rail spurs and rail doors. Image courtesy of Lovett Industrial Diamond Hill Distribution features activatable…
Mahesh Ramanujam, CEO, Global Network for Zero. Image courtesy of Global Network for Zero That 2023 was a tremendous year…
Barker Cypress Distribution Center came online in 2022. Image courtesy of Colliers Barker Cypress Distribution Center came online in 2022.…
Jessica Fiur, Editor-in-Chief Jessica Fiur, Editor-in-Chief Jessica Fiur, Editor-in-Chief I’m going to admit something here. Please don’t judge. I love…
StarPoint Properties will soon deliver Point Central Business Park, a 157,473-square-foot speculative industrial development in Denver. Point Central Business Park…
Jonathan Pollack will serve as president at Starwood Capital Group starting next year. Image courtesy of Starwood Capital Group Jonathan…
The overwhelmingly positive sentiments around commercial real estate investment from Seyfarth’s latest survey. Chart courtesy of Seyfarth Shaw LLP The…
Office? Industrial? Data centers? When it comes to asset classes, CRE investors and developers have a a lot of options.…
Commerce Square is in the heart of the I-70 East submarket, which accounts for more than 40 percent of the…
The Rise will include nearly 2 million square feet of office space. Image courtesy of Sand Hill Property Co. The…
Koll Cotton Center features 78,400 square feet of office space and more than 150,000 square feet of industrial space. Image…
The 812,425-square-foot facility features 82 dock-high loading doors and two drive-in doors. Image courtesy of JLL The 812,425-square-foot facility features…
Boyle Investment Co. has acquired The McEwen Building in Franklin, Tenn. Image courtesy of Boyle Investment Co. Boyle Investment Co.…
AXIAL Crosspoint consists of three industrial facilities totaling 558,000 square feet. Image courtesy of Crescent Communities AXIAL Crosspoint consists of…
The finished Harbor Logistics Center, which will be built at the site of a former office campus. Image courtesy of…
Quartermaster Plaza came online in 2004 on some 44 acres. Image courtesy of JLL Capital Markets Quartermaster Plaza came online…
One Grand Central Places went through an $85 million capex program in 2008. Image courtesy of Empire State Realty Trust…
Baker Jarrell Property taxes are an ongoing headache for many commercial real estate owners, especially when their properties generate inadequate…
Over the last two years, interest rates headed in one direction: up. Back in January 2022, the Federal Funds Effective…
Hans Nordby Volatility in financial markets, interest rate uncertainty and persistently high inflation dampened investor appetite for real estate in…
Rendering of the improved two-building office campus, currently undergoing a $75 million redevelopment strategy. Image courtesy of Hines Rendering of…
The ongoing reshoring of U.S. manufacturing jobs will continue to drive industrial real estate development, according to a new report…
8726 U.S. Highway 42, located in Florence. The multi-specialty office is the largest in the portfolio. Image courtesy of CBRE…
Potential bidders are eyeing WeWork and its footprint, which includes this 44,313-square-foot space at 250 E. 200 South in Salt…
The 1000 Imeson Park Blvd. facility is across the street from one of RoadOne’s existing operations in Jacksonville, Fla. Image courtesy…
One of the facilities that were part of Realterm’s $1.2 billion recapitalization of a national 61-asset IOS portfolio. Image courtesy…
The office buildings at 1000 and 1100 Dexter Ave. sold for $213 per square foot. Image courtesy of Sabal Investment…
Public has been anchoring Palm Plaza since the property’s completion. Image courtesy of Colliers Public has been anchoring Palm Plaza…
CentrePort 2 is a 2017-completed, Class A warehouse. Image courtesy of JLL CentrePort 2 is a 2017-completed, Class A warehouse.…