Bill Wichterman

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    4 FACEB Investment LLC nabbed the 75,414-square-foot asset in one of the world’s most expensive logistics markets. The warehouse is within a mile from the Oakland Airport and a 15-minute drive from the Port of Oakland.

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    The partnership—including Caspi Development, Mactaggart Family & Partners and Barone Management—expects to deliver the 96-key Manhattan property in 2020.

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    The 781,440-square-foot facility is located within Cobb County's Six Flags Opportunity Zone, where companies are eligible for job tax credits of up to $3,500 per job created.

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    VEREIT may receive as much as $200 million, composed of $120 million in cash at closing and as much as $80 million in fees to be paid under a six-year service agreement based on Cole’s future revenues.

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    The REIT paid $106.1 million to acquire five Class A buildings in Victoria, Greater Toronto, Ottawa, Halifax and Cambridge, offering a combined 492,900 square feet of rentable space.

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