What area is your expertise?
Mid-Michigan, primarily the greater Lansing area.
What trends do you see presently in industrial development in your area?
Very soft. Some activity from small businesses and companies doing defense work for U.S. government.
What type of industrial product is doing well in your area?
10,000 square feet and smaller
Who are the active industrial developers in your area?
Wieland-Davco and Dart
Where is the majority of development taking place? Why is this area doing well?
Delta Township due to the newer General Motors plant.
What area do you expect to be the next big industrial development market? Why?
Expansion of newer Delta Plant. If present car models sell well, they have plans to expand.
Please describe the industrial leasing activity in your area.
Some smaller and short-term leases.
Please describe the industrial sales activity in your area.
Very little and what there is, are prices below market.
What impact do current interest rates have on the industrial market? What predictions do you have for interest rates and their effect on the industrial market in the next year?
Lower interest rates help, but that alone will not be enough.
What industries do you expect to expand in the next year to absorb a great deal of industrial space? What areas will be affected?
Companies doing defense work.
Would you like to make any additional observations about the industrial market in your area?
Buyers will have a harder time getting financing due to credit markets.
Submitted by Blair Moore, senior associate/industrial advisor with the Lansing, Mich., office of CB Richard Ellis. Posted 08-21-08.