Warehouse Market on the Uptick

newsobserver.com NC:

"The group, which includes former Highwoods Properties Chief Executive Ronald P. Gibson, paid Temple-Inland $3.7 million, or about $16.48 per square foot, last week for the warehouse and 19.9 acres."

Not a bad price for 224,500SF of space.

"The price -- about 16 percent below the asking price and 37 percent below the assessed tax value -- is slightly above the average price per square foot paid for empty or nearly empty buildings in the past year."