{"id":1004278730,"date":"2018-11-12T05:06:35","date_gmt":"2018-11-12T13:06:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004278730"},"modified":"2022-12-09T02:14:23","modified_gmt":"2022-12-09T10:14:23","slug":"trade-wars-are-not-an-obstacle-to-industrial-sector-yet","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/trade-wars-are-not-an-obstacle-to-industrial-sector-yet\/","title":{"rendered":"Trade Wars Are No Obstacle to Industrial Sector\u2014Yet"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

\"Matthew<\/a>

Matthew Dolly, Transwestern\u2019s research director in New Jersey<\/p><\/div>\n

Start with substantial net absorption, then add steady job gains, continued (though softening) retail sales growth and strong consumer confidence. The result is what you see in the U.S. industrial real estate market<\/a>: a national average vacancy rate that remained below 5.0 percent despite \u201caggressive and widespread<\/em>\u201d new construction, according to a third-quarter report from Transwestern.<\/p>\n

Likely because of tariff fears, port volumes are at record levels, boosting coastal markets.<\/p>\n

The report found<\/a> \u201crent growth across nearly every market tracked<\/em>,\u201d with a nationwide average increase of 7.3 percent year-over-year. The most stellar markets\u2014Oakland\/East Bay, Sacramento and Long Island\u2014all hit rent growth more than double that national average.<\/p>\n

But it wasn\u2019t just the top markets that did well. Positive 12-month net absorption was seen in 44 of 47 markets surveyed, and positive third-quarter net absorption was seen in 35.<\/p>\n

\u201cHigh-quality infill remains in high demand by investors, causing average rent to blow by the $6 per-square-foot threshold<\/em>,\u201d Matthew Dolly, Transwestern\u2019s research director in New Jersey, said in a prepared statement. \u201cWhile construction continues at an aggressive pace, it can\u2019t keep up with the red-hot demand. As a result, we\u2019ve seen the U.S. industrial vacancy rate drop 300 basis points in the past five years<\/em>.\u201d<\/p>\n

Stars, plus a deep bench<\/h2>\n

California\u2019s Inland Empire, Atlanta and Chicago led all other U.S. markets in industrial absorption during the third quarter; the Inland Empire topped 25 million square feet over the previous 12 months, with preleased deliveries accounting for a significant percentage.<\/p>\n

Among the strongest second-rank industrial markets in the third quarter were New Jersey, Baltimore and Dallas\u2013Fort Worth.<\/p>\n

For average industrial vacancy, Southern California took the prize, with both the Los Angeles and Orange County markets well under 2 percent.<\/p>\n

Both DFW and the Inland Empire had more than 20 million square feet under construction, with Chicago and Atlanta close behind.<\/p>\n

In August, Ivanho\u00e9 Cambridge acquired a total of 150 acres in Ontario, Calif.<\/a>, where Cap Rock Partners will develop a $450 million-plus, 11-building industrial project, called Colony Commerce Center.<\/p>\n

Across the country, Saddle Creek Logistics Services signed a lease for 1.2 million square feet<\/a> at Core5 Industrial Partners\u2019 Southwest 85 Logistics Center, in Newnan, Ga., in the Southwest Atlanta submarket.<\/p>\n

Image courtesy of Transwestern<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Nationwide, year-over-year rent growth hit 7.3 percent in the third quarter, according to a new report from Transwestern. A handful of the hottest industrial markets are doing even better. <\/p>\n","protected":false},"author":882,"featured_media":1004278742,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,23891,21742],"tags":[32914,33313],"class_list":["post-1004278730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-national","category-latest","tag-e-commerce","tag-transwestern"],"acf":[],"yoast_head":"\nTrade Wars Are No Obstacle to Industrial Sector\u2014Yet - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/trade-wars-are-not-an-obstacle-to-industrial-sector-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade Wars Are No Obstacle to Industrial Sector\u2014Yet\" \/>\n<meta property=\"og:description\" content=\"Nationwide, year-over-year rent growth hit 7.3 percent in the third quarter, according to a new report from Transwestern. 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