Industrial Big Box Leasing Is On a Tear
2024 could be the third-highest year for industrial big-box leasing, CBRE projects. Even though a spate of new construction in 2023 brought a record 413 million SF to market, it expects that abundant supply to be short-lived. “Investor sentiment has significantly improved from last year as industrial operating fundamentals remain solid and the credit market […]
Fed’s Powell: Rate Cuts Likely Delayed This Year
If inflation continues, long-anticipated interest rate cuts may not happen this year, the Federal Reserve chair said. Interest rates influence mortgage rates. WASHINGTON — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer […]
Business Rent Tax Reduction Set for June
A cut in the state’s commercial lease sales tax, from 4.5% to 2.0%, will begin on June 1, weeks earlier than originally expected. Business owners will see an earlier-than-anticipated reduction to the state’s lease tax, beginning in June rather than July, state leaders said. Florida’s commercial lease sales tax rate, also known as the Business […]
Getting in the Heads of Industrial Tenants
An excess of supply in some industrial markets has led to more rentable options and more favorable leasing terms for tenants. With new construction starts taking a more than 70 percent dive since early 2022, however, according to a 2023 Savills report, demand is likely to quickly outpace new deliveries. Until then, tenants have their […]
Self-Storage Owners Expand Portfolios, Renovate Existing Properties
Nearly one-fifth of Americans rent self-storage space, according to a recent study conducted by StorageCafe, an online platform that provides storage unit listings across the nation. Owners and operators of the property type are keen to capitalize on the strong demand. According to StorageCafe, the total amount of new storage space delivered in 2023 reached 49 million […]
Census: Miami Ranked #1 For International Population Growth In 2023
Miami-Dade’s net international population growth surged in 2023, and was the highest of any county in the U.S., according to new Census data. The number of new Miami-Dade residents coming from outside the U.S. rise almost 40% last year, to 54,457. No other county added as many new international residents. When counting total population growth, including […]
Commercial Preparing for Maturing Loans
With about a quarter of commercial mortgages maturing this year, smaller banks are preparing for the economic pressure. Experts say the stress is not expected to produce broader financial implications. NEW YORK – The popularity of remote work in the United States has emptied office buildings, a cause for worry as their value falls and […]
Industrial Rents Rise as New Pipeline Rebalances
National industrial in-place rents increased by 7.6% year-over-year to an average of $7.74 per square foot in January as the industrial new supply pipeline undergoes a rebalancing, according to CommercialEdge’s February Industrial Report. The national vacancy rate rose 20 bps month-over-month to 4.8% as nationwide, an increase of 80 basis points over the last 12 […]
Cold Storage Is Hot — and It Will Stay That Way for A While
Forget labs or data centers. The true mission critical infrastructure of American life is the 3.7 billion square feet of big, boxy refrigerated warehouses that have recently become a real estate asset of interest. Significant changes in grocery shopping, restaurant operation, pharmaceutical storage (including new diet drugs), online ordering and meal kits, agriculture, food manufacturing […]
The Changing Direction of Industrial CRE
The future of industrial CRE is strong, but advancing in a new direction, according to a report from Newmark and NAIOP. CRE for advanced manufacturing is the wave of the future, while warehousing and distribution take a back seat, the report finds. It predicts new construction related to the high tech, automotive, energy and biomanufacturing […]
