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The Registry · Industrial

Global Net Lease Takes 21,000 SQFT Labcorp Lab at 1031 Bing Street in San Carlos From Modiv Industrial for About $22.7MM

Via The Registry · November 7, 2026
Compiled by Real Estate Trail Editorial · November 7, 2026

Why this matters

Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.

Editorial analysis · Real Estate Trail Editorial

Excerpt from The Registry:
A 20,800-square-foot Labcorp research facility at 1031 Bing Street in San Carlos changed hands from Modiv Industrial to Global Net Lease at roughly $1,091 per square foot, one piece of a $535 million all-stock REIT me…
Read the full article at The Registry →

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