Yet another industrial owner is pushing into the data center business as the AI industry's growth fuels explosive demand for space.
Tenants are playing the wait-and-see game as economic and political questions loom.
Advanced manufacturing space in the area is about 4.5% vacant.
U.S. levies on Chinese imports could be cut from 145% to as low as 50%, according to White House officials, but firms are already ordering fewer Chinese goods.
The firm brought on Guy Metcalfe, who previously led Morgan Stanley's real estate investment banking business, as senior advisor for global real estate.
Roughly 20% of Amazon's purchases in 2024 were in Virginia, but its most expensive deal was for a cutting-edge warehouse in Daytona Beach, Florida.
Despite the rise of generative AI, high costs and design hurdles means converting warehouses to data centers only makes sense in the most competitive markets.
U.S. industrial vacancy climbed to 7.1% to end the first quarter, but it's expected to peak this year as a wave of new construction is absorbed.
With a record number of climate events and billion-dollar costs, retailers are turning toward AI-powered weather analysis to optimise their supply chains.
Stop-start tariffs and an increasingly uncertain supply chain environment could result in more Chinese retailers looking for logistics space in Europe.
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