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New Distribution Centers Hold Onto Property Values Despite Higher Interest Rates

In May 2023, Invesco Real Estate bought the West Essex Logistics Center in Livingston, New Jersey, for over $98 million. At $335 per square foot, the price was one of the highest ever recorded on a per-square-foot basis for a newly built distribution center in the state. (CoStar)

Record-Breaking Rent Growth Has Helped Buoy Asset Pricing

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