Demand for Warehouse Space Continues to Grow
According to a recent CBRE report, the US needs to add 300 million square feet of warehouse space dedicated to online fulfillment by 2025 in order to keep up with the predicted rise in e-commerce sales over the next 4 years. CBRE expects that US e-commerce sales will increase to 26% of retail sales by 2025 and globally there will need to be an increase of 1.5 billion square feet to keep up with a $1.5 trillion uptick in e-commerce sales by 2025.
John Morris, CBRE’s Executive Managing Director, spoke about low vacancy rates for industrial real estate space saying “(A) significant amount of new construction will be needed in the next few years just to keep pace with robust demand.” Demand for e-commerce remains high, representing 25% of new leases signed in the first quarter.
Participate in 50% of Profits from Joint-Venture Partnerships
SMARTCAP Industrial Value Fund 3 is open for investments! Investors will participate in 50% of profits from Joint-Venture partnerships, as explained in the video above by SMARTCAP's Director of Acquisitions, Brian Burmester.
General Partner Promote Highlights:
- Reduced risk and increased returns through profit sharing
- 50% of all joint venture profit that would otherwise be paid to SMARTCAP is shared with Value Fund 3 investors
- Diversified investment by partnering with institutional partners
To learn more about SMARTCAP Value Fund 3, please email investors@thesmartcapgroup.com.
Amazon Growth Centered in Bellevue, WA
It was announced recently that Iowa-based Principal Real Estate Investors is putting Bellevue’s Lincoln Plaza office property up for sale. The pricing guidance on the 148,652 SF property is approximately $78MM. Lincoln Plaza consists of three buildings and is located within the Eastside office market in Bellevue. Even amid the pandemic, this sub-market remained strong and is proving to be very resilient, with office rents up by 9% since the first quarter of 2020 and a number of transactions over the last year.
Evergreen Office Park's Newest Tenant
SMARTCAP, Inc. is excited to welcome our newest tenant to Evergreen Office Park! Bassler Consulting has signed a 39-month lease and will occupy a 1,446 SF suite that was recently renovated to include new carpet tiles, new casework and cabinets, new kitchen appliances, a paint refresh, and HVAC upgrades. Bassler Consulting manages, plans, and executes on financial strategies for high net worth families, individuals, and startups. Welcome to the neighborhood, Bassler!
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