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Archives for May, 2019

Bridge Point Riverbend Fetches $38 Million

Bridge Development Partners, one of South Florida’s most active industrial real estate developers, announced the sale of Bridge Point Riverbend.

ASB Capital Management purchased the 221,815-square-foot industrial facility, located at 201 Northwest 22nd Avenue in Fort Lauderdale for $38.2 million. The price equates to $172 per square foot.

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Industrial To Remain As CRE Bright Spot In 2020, Economist Says

Commercial real estate prices should even out by 2020, according to the chief economist of the National Association of Realtors.

Dr. Lawrence Yun was one of the speakers at the commercial economic issues and trends forum at the Realtors Legislative Meetings & Trade Expo.

“We may see commercial real estate prices rise for the next year, but I expect them to even out in 2020,” Yun said. “Capital gain returns have grown from 90% with the rise in property prices. We can attribute the growth in commercial building investment spending to job additions and rising occupancy of buildings.”

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Prologis Reportedly Interested In Buying GLP

The biggest initial public offering in real estate history may not happen after all.

Prologis has expressed interest in purchasing the U.S. operations of Singapore-based GLP, Bloomberg reports. GLP had previously been considering an IPO for that portion of its business, reportedly backed by Citigroup and Goldman Sachs and targeting a $20B valuation.

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