Michelle Matteson
Development
The percentage of industrial under construction decreased by 7 percent, followed by the decrease of 5.2 percent for retail construction, compared to March 2017.
Industrial Demand
The most significant changes included Transportation Equipment up 8.5 percent, followed closely by Primary Metals and Fabricated Metal Products, with an increase of 7.8 percent.
Employment Picture
Year-over-year, the largest difference for employment was once again in the Farming, Fishing and Forestry occupations, with a rise of 10 percent.
National Vacancies
Vacancy rates for office markets are expected to decrease by 2.7 percent in the Midwest and remain almost the same as in the first quarter of this year for the other regions.
CMBS Delinquencies
Retail properties had the largest decline, at $932 million, while office decreased by $805 million.
NAI Global MR
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs.
BuzzSessions MR CPN 0517
Join a FREE buzz session in your area hosted by Yardi. Get insight into your local market from real estate experts.
Currency Return
For U.K. based investors, the depreciation of the pound makes unhedged U.S. performance look rather attractive. For Canadian or Japanese investors by contrast, the picture changes depending on the return horizon.
Development
Office construction peaked in March 2015 at 114.5 million square feet, but the sector experienced a 22 percent decline in construction in the following year.
Industrial Demand
Furniture and related products ranked among the bottom categories for month-over-month new orders (down 8 percent), along with primary metals (down 4.9 percent).