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Real Estate Acquisition & Art Sale
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Lovett Industrial and Heitman LLC collaborate to purchase a 720,000 sq ft industrial park in Norfolk, VA, aiming to capitalize on the region's strong industrial market. Meanwhile, Christie's conducts a secret sale of a Rothko painting for over $100 million, reflecting a positive trend in the art market post-Covid-19.
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How might the acquisition of the industrial park impact the local economy and job market in Norfolk, VA?
In what ways do secretive art sales influence the transparency and valuation of the art market compared to public auctions?
What factors are driving the significant growth in private art sales post-Covid-19, and how does this trend affect traditional auction houses?
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