Home > Commercial Real Estate News > Industrial Sector Takes Off | CCIM Institute | #CRE #REALESTATE

Industrial Sector Takes Off | CCIM Institute | #CRE #REALESTATE


Posted July 23rd 2013

In 2Q13, the industrial sector recorded its fifth consecutive quarter of net absorption above 20 million sf, with 26.7 million sf of space absorbed, according to Cassidy Turley’s U.S. Office and Industrial Report. The U.S. saw widespread absorption growth across the country in 2Q13, most notably in the South and Midwest where 22.3 million sf and 19.4 million sf of industrial space was absorbed respectively.

Thus far the recovery has recorded 283 million sf of industrial absorption, surpassing the 178 million sf lost during the recession, according to the report. The gains have been driven by housing construction, the auto sector, durable goods manufacturing, and e-commerce.

The industrial vacancy rate now sits at 8.5 percent, 140 basis points below its recessionary peak. And despite overall rent growth being restricted by antiquated properties, newly constructed industrial space posted a 2.3 percent rise in rents year over year.

Download the complete report (PDF).

2Q13 Industrial Rent Growth by City (YOY)

Miami         ↑11.3 % Chicago       ↑9.7 % Portland, Ore. ↑9.3 % Louisville, Ky.↑8.3% San Antonio   ↑6.8%

Source: Cassidy Turley

– See more at: http://www.ccim.com/newscenter/323148/2013/07/23/industrial-sector-takes#sthash.P59FaG7I.dpuf

 

via Industrial Sector Takes Off | CCIM Institute.

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