Investors banking on growth for U.S. industrial properties
All signs point to a solid performance by the U.S. industrial property sector in 2013 and beyond as it continues to bounce back from the recession. The manufacturing sector has shown steady gains, and tenant demand for warehouse and distribution space is strengthening. CBRE reports that the year-end 2012 national industrial availability rate fell to 12.8 percent, reflecting a year-over-year improvement of 70 basis points.
Industrial giant Prologis recently released a report that noted the U.S. industrial market was transitioning from recovery into expansion. The report forecasts that a maturing economic recovery, broadening leasing velocity and limited new construction will fuel a 25 percent increase in effective rents during the next four years.
Investment managers have jumped on the industrial property bandwa