Prime logistics rents increase globally
Global prime logistics rents are on the rise because of voracious demand from e-commerce fulfillment and distribution centers, according to CBRE Group’s inaugural Global Prime Logistics Rents report. Prime logistics rents increased 2.8 percent year-over-year globally in 2015, led by double-digit percentage gains in U.S. coastal markets.
Six of the 10 markets with the fastest-growing prime logistics rents were in the United States, where relentless occupier demand in coastal markets drove up pricing. Oakland, Calif., landed at No. 1 with a nearly 30 percent gain, followed by New Jersey with a 15 percent gain and Southern California’s Inland Empire, up 13.5 percent. Other U.S. metro areas in the top 10 include Los Angeles–Orange County in seventh place, Dallas–Fort Worth in eighth and Atlanta in ninth.
Overall, growth in prime logistics rents in the Americas (5.6 percent) outpaced that in Asia (2.5 percent) and in Europe, the Middle East and Africa (0.8