A Bridge Investment Group Holdings affiliate has made a move to get beyond the backlash against industrial development in California with a deal for three distribution centers in the Inland Empire. “Local municipal headwinds, AB 98 and general land scarcity are causing significant barriers to new development,” Paul Jones, managing director of Bridge Logistics Properties, said in a statement, referring to the state law passed last year standardizing warehouse design, truck routing and air quality monitoring for logistics developments across the state. “Once economic conditions stabilize and tenant demand normalizes, we believe we will see value appreciation for existing assets.” […]
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