Tight market conditions for United States-based warehouses and distribution centers continues to get even tighter, according to data issued by industrial real estate firm CBRE in its U.S. Industrial Availability Index, which was released this week. The availability rate in the first quarter dipped six basis points to 7.3%, which CBRE said marks the 31st consecutive quarter that availability has declined. And on an annual basis, the availability rate dropped 20 basis points annually.Read More
"Co-working has captured the attention of both occupiers and investors and continues to gain traction in commercial real estate," said Scott Marshall, Americas President, Advisory & Transaction Service and Investor Leasing, CBRE. "While many investors are deciding how to participate, in general, investors have concerns that if co-working comprises more than a third of the rent roll of an asset, the long-term capital value could be negatively impacted."Read More
"E-commerce has created demand for a new type of warehouse with different dimensions, locations and capabilities than what most of the existing U.S. supply offers," said David Egan, CBRE Global Head of Industrial & Logistics Research. "Given that only a small portion of the overall market is truly modernized, there is a strong case for new construction and redevelopment of outdated facilities in many markets."
"Portland's jump into the top 10 illustrates the tremendous amount of growth we've seen over the past few years," said Jason Green, CBRE's managing director for Oregon and Southwest Washington. "The biggest indicator of new investor interest is growth in office-using jobs and continuously shrinking unemployment rates, and that trend is likely to continue in our region."Read More