In this video, REIS Chief Economist and Senior Vice President Victor Calanog provides a quick update on the market fundamentals in the industrial sector for Q1 2017. Among the highlights are:
- In contrast to most other sectors, lots of movement in industrial property fundamentals
- Vacancy ended quarter at 10.1% down 10 basis points for the quarter and 40 basis points over the past year
- Flex/R&D property vacacny ended at 10.9% down 20 bp for the quarter and 80 basis points for the year
- Rents were up 0.6% for the quarter on both an asking and effective basis
- Asking and effective rents increased .5% and .6%, respectively, for flex/R&D property
- Rent growth good relative to other property sectors
- Economy was expected to grow more than it has under new administration, but industrial is bucking the trend as trade is OK and e-commerce continues to grow