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 […]
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 […]
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 […]
South Florida office market stronger than pre-pandemic years, JLL says
Although there are significantly less lease deals taking place, South Florida’s office market is on a stronger footing than it was prior to the pandemic, a lead broker with JLL said. “We are at about a 20% slower rate of deal flow from last year,” said Steven Hurwitz, managing director and agency lead for JLL’s […]
E-commerce Continues to Fuel Industrial Expansion
The pandemic-triggered surge in e-commerce significantly increased demand for industrial real estate, according to the latest CommercialEdge industrial report. Even though e-commerce sales have seen a 74 percent boost since early 2021, a substantial portion of this sudden increase occurred primarily in the second quarter of 2021. Notably, pre-pandemic, the growth rate was higher than […]
