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 […]
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 […]
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 […]
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 […]
Prologis Sets Rent Growth Records, CEO Remains Optimistic Amid Geopolitical Turmoil
Prologis reported slightly dented third-quarter earnings Tuesday following several quarters of strong returns, an indicator of the impact rising interest rates and a gushing pipeline of new supply have had on the industrial real estate market. Still, the global REIT beat analyst estimates and turned in record rent growth along with nearly full occupancy at its properties. Company executives […]
Interest Rate Hikes Temper US Industrial Madness: Report
The once-crazed national industrial real estate market is taking a “collective deep breath” and calming down, new data shows. The Federal Reserve’s interest rate hikes the past 18 months have significantly slowed the pace of new construction, normalized the level of investment sales, and tamed leasing activity in the United States, according to the latest […]
Prologis Buying $3.1B In Industrial Properties From Blackstone
Prologis agreed to buy 14M SF of industrial property from Blackstone in a $3.1B all-cash deal aimed at strengthening its position as the world’s largest industrial property company. The acquisition of about 70 properties expands Prologis’ real estate portfolios in Atlanta, Washington, D.C., California, Dallas, Las Vegas, New York and New Jersey, Phoenix and South Florida, the companies […]
