CBRE forecasts uptick in industrial space demand and rents
The U.S. industrial real estate market is still recovering from the economic downturn, but growth in technology, domestic energy and global trade will help encourage demand in the warehouse and distribution sectors, CBRE Group forecasts.
Some of the top industrial markets with the best outlooks for 2013 are located in the middle of the supply chain — such as Indianapolis and Atlanta. Others, such as Boston, Raleigh-Durham in North Carolina, and particularly San Jose and San Francisco, have seen growth due to their proximity to high-tech regions and high-tech manufacturing.
“That’s kind of a consistent theme with where we see the economy going regionally as well,” says Arthur Jones, senior managing economist with CBRE Econometric Advisors.
CBRE expects the national industrial availability rate to decrease to 12.2 percent in 2013 and 11.3 percent by 2014. These rates represent a