News
MINI-INDUSTRIAL PICKING UP, TOO
April 28, 2011
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| In a not-yet-released AIRE survey, 36% of the 500 industrial brokers polled reported that users between 25k and 100k SF would make up the majority of market activity in 2011. Newmark Knight Frank Epic'sJohn Coleman agrees (and he sent us a pic from Florida, where he's attending the Newmark conference with co-workers Michael Marconi, John Joyce, and Jeff Locascio). NKFE has leased or sold 13 buildings between 25k and 75K SF since March and thinks more are on the way. This is because lots of local users have delayed leasing or buying decisions because of economic uncertainty. Of the 13 transactions John and his colleagues worked on, nine were expansions, two were lateral moves, and two were downsizings. | |
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| JLL's Dominic Carbonari told us the big box markets have been back for a while, but he's seeing the re-emergence of the 50k to 100k SF warehouse and is now listing four such buildings west and southwest of O'Hare (two are under contract). Most tenants he's seen looking at the buildings are consolidating from other locations. Dominic and John agree that operation cost efficiencies are driving smaller companies into mid-size spaces. |
