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Avison Young: Industrial construction keeps soaring despite rising materials costs

Avison Young: Industrial construction keeps soaring despite rising materials costs
Amazon continues to fuel the industrial market.
Consumers were flocking to online shopping before COVID-19 hit. Now, as the pandemic appears to be winding down, even more have embraced the simplicity of ordering groceries, clothes, electronics and more online.
And these consumers want their products to show up at their doors as quickly as possible. This has fueled an industrial boom that has held strong throughout the pandemic. According to a new report from Avison Young, this has led to an equally strong increase in industrial development, one that doesn’t look ready to slow anytime soon. ....

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Clarius, Wanxiang America Sell 587 KSF Charleston-Area Asset

Clarius, Wanxiang America Sell 587 KSF Charleston-Area Asset
Avison Young arranged the sale of the property at Omni Industrial Campus in Summerville, S.C.
Mar042021
Image courtesy of Avison Young
Chicago-based firms Clarius Partners and Wanxiang America Real Estate Group have sold a 587,720-square-foot industrial property at 537 Omni Industrial Blvd. in Summerville, S.C. According to public records, Evergreen Medical Properties paid $49.2 million for the asset. The buyer took out a $30 million loan from Reinsurance Group of America for the purchase.
The building was constructed in 2018 and is fully leased to 3G Distribution Services, a third-party logistics provider. Avison Young Principals Erik Foster and Mike Wilson, members of Avison Young’s National Industrial Capital Markets Group represented the seller. Foster and Wilson also successfully raised the development equity on Clarius’ behalf to construct the project. In November 2016, the ....

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