Industrial

Demand for top-notch logistics space remains strong across the country, so strong in fact that six of the top 10 markets with the fastest growing logistics rents globally are located in the United States, according to CBRE’s “Global Prime Logistics Rents” report released this week. The global prime industrial rent survey provides a snapshot of achievable net rental rates for high-quality, Class A logistics space in traditional and emerging global hubs. With a nearly 30 percent increase in rents during 2015, Oakland, Calif., posted the largest gain. To determine the percentage increase, researchers gathered information based on industrial distribution space of the highest quality and specification, and in the best location, within each industrial hub. In North and South America, rents for prime logistics space increased 5.6 percent during 2015, largely due to massive growth in U.S. coastal markets where strong occupier demand drove up pricing. In Oakland, which also recorded the largest annual increase in prime rents globally, flight-to-quality is common for inner-bay logistics users despite the high cost. New development in some markets, like the Inland Empire, is also commanding premium rates. In addition to Oakland, U.S. cities in the top 10 for fastest growing prime logistics rents …