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 […]
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 […]
Industrial Sector Set for 2024 Transformation
The industrial sector—which has been on a hot streak for several years—experienced a significant cooling-off in 2023. As we look ahead to 2024, CommercialEdge anticipates a period of stabilization and normalization in the sector. In 2024, rent growth is expected to slow and vacancy rates to rise due to a surge in new supply. Although Mexico overtook China […]
The new hot property in Miami? Warehouse demand hits an all-time high — and here’s why
Miami-Dade County’s warehouses are going as fast as croquetas and cafecito on a cold day. Tenants — picture e-commerce, importers, fruit and beverage companies — are having a hard time finding storage space in Miami-Dade to rent with the 1.6% vacancy rate an all-time low, according to the JLL fourth quarter 2023 Miami Industrial report […]
The Fed Declares Interest Rates Have Reached Their Peak
Federal Reserve Chairman Jerome Powell declared the end of the current monetary tightening cycle on Wednesday as policymakers decided to hold interest rates steady. “The policy rate is at its peak in this tightening cycle,” Powell told reporters after the Fed’s policy-making committee’s first meeting of the year. The decision left the Fed’s overnight lending […]
Fed Presses Pause on Interest Rates Once Again to Close Out 2023
The Federal Reserve held short-term interest rates steady to close its 2023 calendar in a move that positions commercial real estate for a potential rebound in transaction volume next year, according to analysts. The central bank kept its benchmark interest rate unchanged at between 5.25 percent and 5.5 percent for a third straight meeting after bringing rates […]
Developers Looking to Infinity and Beyond to Create Commercial Opportunities in Fla.
Florida’s Space Coast will be the home to three warehouses with more than 600,000 square feet for the aerospace industry. The Texas-based Hines real estate investment firm is partnering with local developer Key Group on a $500 million industrial park near Florida’s Cape Canaveral, aiming to cash in on the booming aerospace industry. The real-estate […]
Economic Conditions Ideal for a Sale-Leaseback Strategy
In today’s higher interest rate costs, for the first time in many years, there’s a condition where the financing alternative of sale-leaseback is superior to the borrowing options that a company might have, according to Alan Pontius at Marcus & Millichap. The firm’s senior vice president and national director of industrial, and healthcare divisions, speaking […]
