Green Street Advisors

 

 

Wall Street Journal: Global Logistic Properties to Buy U.S. Warehouse Portfolio for $1.1 Billion

According to The Wall Street Journal:  Global Logistic Properties Ltd. said it has agreed to buy distribution centers from Hillwood Development Co. for $1.1 billion.

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Last year was “the busiest year in history in terms of pure acquisitions,” said Eric Frankel, an analyst with Green Street Advisors. “The challenge to industrial real estate is that it’s a low cost-per-square-foot business, and it takes a lot of time to assemble a big enough portfolio to interest large institutional investors. You are seeing a lot of smaller portfolios out there.”

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To view the full article from The Wall Street Journal, click here.