Great new blog from REJournals – Industrial warehouse space is one of our main products.
Unemployment remains high. Job growth is sluggish. Surprisingly, this hasn’t slowed the demand for industrial warehouse space and modern distribution centers across the Midwest, the nation and the globe.
That’s the key finding from a new report from Colliers International, its Global Midyear 2013 Highlights Report. The report, released July 8, says that while London, Hong Kong and Singapore enjoy the highest industrial rents, other markets across the globe are seeing a strong industrial market, too. The report says that industrial buildings across the world are operating near full occupancy.
According to the report, an estimated 40 percent of existing U.S. warehouse space is old enough to be considered functionally obsolete. What’s this mean? That demand for modern warehouse properties near ports and for modern inland distribution centers is on the rise.
In the Midwest, we’ve seen this in a market like Indianapolis, which is seeing its first build-to-suit…
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