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Industrial Real Estate Demand Strong Heading Toward Final Months Of Tumultuous Year

The nation’s industrial real estate market is headed toward the closing months of 2022 with strong demand overcoming uncertainty about the course of the global economy.

Leasing of logistics, manufacturing and warehouse properties has been hitting records during the third quarter as businesses and investors also build and buy industrial properties at near-record levels, analysts and brokers told CoStar News. That comes as they describe heading into a fourth quarter beset by uncertainty as the prospect of a recession looms, interest rates are expected to bump up further and the pandemic grinds on.
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‘Everyone Is Chasing Industrial’: Seagis Property Group On The Hunt For More South Florida Properties

Anticipating an upward trajectory in demand for distribution and storage space, Seagis Property Group plans to invest in more industrial assets in South Florida, a company executive told the Business Journal.

“The acquisitions will come as stresses on the supply chain and the growth of e-commerce companies continue to escalate rates to lease industrial real estate in the region,” said Erin Plourde, senior VP of Seagis Property Group. “The main challenge is industrial is the most appealing asset class these days because of the market demands there. Everyone is chasing industrial.”

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Big Box Retail Eyed As Good Candidate For Warehouse Conversions

As retail struggles throughout the pandemic, there are many arguments for converting slumping shopping centers into new uses.

Big box retail hasn’t suffered as much as mom-and-pop stores, gyms and restaurants. Still, investors and developers are looking to warehouse conversions as a way to take advantage of the higher returns and strong rental growth of the logistics sector, according to Stuart Taylor, senior director of retail investments for JLL in a new post.
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