REBusinessOnline

Will a Tight Labor Market Limit St. Louis Industrial Growth?

The St. Louis industrial market is in the middle of a significant construction boom. Total square footage under construction is at a record-high 6.3 million square feet, with 2.8 million square feet of activity completed in 2018. The last two years have experienced historically high levels of overall net absorption with 4 million square feet in 2017 and 5.6 million square feet in 2016. These absorption levels are significantly higher than pre-recession market numbers.   The expected 3 …

Why Southern Maine’s Industrial Market is Headed for Rockier 2019

My mind wandered recently on a long drive, as it often does. I had the music going and, in typical Maine fashion, cell phone coverage was spotty.  It was nice to effortlessly jump from thoughts of the upcoming holiday season with my young kids, to my 20-year high school reunion and old friends, to the promise of another long playoff run by my beloved Patriots.  But as I passed commercial buildings and warehouses, my attention drifted to the bricks and mortar of the metro Portland …

OKC Industrial Market Should Benefit From Rising Labor Costs Across Central U.S.

From a manufacturing perspective, Oklahoma City has historically been considered a “tertiary market” when stacked against South Central and Midwest power players such as Dallas-Fort Worth (DFW), Houston, Kansas City, San Antonio, Austin and Denver. [caption id="attachment_220204" align="alignright" width="100"] John Lenochan, CBRE[/caption] As large manufacturing users consider multiple markets in the Central United States, Oklahoma City is often included in the initial list but …

InterFace THE Inland Empire Commercial Real Estate

Western Real Estate Business, Shopping Center Business, California Centers and the InterFace Conference Group are pleased to announce THE Inland Empire Commercial Real Estate Conference on January 23, 2019, from 10:00 am – 2:00 pm at the City of Moreno Valley conference center. Covering retail, industrial and multifamily, the event will bring together the industry players who are buying, selling, developing, redeveloping, leasing or financing properties in the Inland Empire. CLICK …

Johnson County, Kansas: A Midwest Hub for Industry and Innovation

Once referred to by developers as a “well-kept secret,” the Kansas City metro area is quickly developing a global reputation for skilled workforce, strong infrastructure, affordable housing and competitive overhead costs like transportation and utilities.  “Kansas City is a region rising. We are dispelling the notion that Kansas City is a well-kept secret,” says Tim Cowden, president and CEO of Kansas City Area Development Council. “There is growing recognition among site locators …

Adaptive Reuse in Core New Orleans Pushes Industrial Activity Westward

When real estate professionals think of the New Orleans industrial market, oil companies, the Port of New Orleans (recently rebranded Port NOLA) and distribution companies come to mind. That thought is currently undergoing an evolution. The historically industrial areas of New Orleans are being absorbed seemingly daily by an insurgence of retail and entertainment-based business. As traditional retail in American shopping and strip malls is on the decline, developers are rushing to buy …

Houston’s Industrial Vacancy, Supply of Developable Sites Dwindle

Industrial space throughout the Houston continues to be absorbed at an astonishing clip, pushing vacancy levels to some of their lowest points this cycle. [caption id="attachment_218010" align="alignright" width="100"] Matteson Hamilton, Stream Realty Partners[/caption] According to Stream’s data, the overall industrial vacancy rate in Houston closed the third quarter at 4.9 percent. Vacancy rates in the six major Houston submarkets are all below 7 percent for the first time since …

Historically Low Vacancy, Port Growth Drive Savannah’s Industrial Development

Though Savannah by all standards is a small industrial market, you would never know it from the activity in the area. At 57 million square feet, the port city is poised to add an astounding 9.75 million square feet of inventory by mid-2019. The force behind all of this growth is attributed to one key factor: The Georgia Ports Authority (GPA). The GPA is an economic giant in Georgia supporting one of every 11 jobs in the state and accounting for 8 percent of its GDP. Home to the largest …

Greater Boston Industrial Market – ‘If You Build it, They Will Come’

The Greater Boston industrial market is busier than ever. Supply for quality warehouse and flex space is limited and the demand is at an unprecedented high. As a result, we have seen rents soar, achieving upwards of $7 to $7.50 Triple Net rent along I-495, and $9 to $11 Triple Net rent along Route 128, notable increases from just a few years ago. To coin a well-known quote from the 1989 film Field of Dreams, “If you build it, they will come,” and both investors and tenants continue …

Orange County’s Industrial Demand Fuels Rent Growth

The industrial market in Orange County remains strong as demand continues to far outweigh supply. Vacancy throughout the region remains at historic lows, staying below 3 percent for the 13th consecutive quarter through the third quarter of this year. The largest submarket, North Orange County, is also the tightest submarket with a 1.2 percent overall vacancy. As an infill market, we do not anticipate significant increases in vacancy within the Orange County industrial marketplace for the …

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