The Blackstone Group LP and Ivanhoe Cambridge purchased 180 industrial properties, 24 in the United States, and 156 in Canada from Pure Industrial RE Trust. The original offer for all these assets was approximately $2 billion. One property is located in West Palm Beach.
The average asking rate in Q2 2018 was $9.57 per sq. ft., an increase of $0.76 year-over-year.
Overall vacancy declined to 2.6%, down 100 bps from the Q2 2017 rate.
In Q2 2018, 63,198 sq. ft. of net absorption posted.