…Indications are that NorthPoint Development is the buyer-in-waiting once the UG confirms the details.
RACER Trust and NorthPoint Development officials have not commented about their relationship, but a Feb. 4 meeting of the UG’s Economic Development & Finance Committee advanced the discussions between both parties and characterized NorthPoint as the potential developer.
A development agreement contemplated between RACER and NorthPoint has the latter developing 1 million square feet of new industrial space at an investment level exceeding $40 million…