The San Francisco-based REIT reported 98% occupancy in its massive global portfolio in the first three months of the year — a slight increase from the same time in 2022 — as e-commerce spending picked up and helped drive leasing of warehouses.
Industrial real-estate developers have been stepping up building cold-storage warehouses in the U.S. without tenants lined up for the space, betting that pandemic-driven changes in the way consumers buy groceries and meals are here to stay. Nearly 3.3 million square feet of refrigerated warehouse space was under construction through the second quarter of this year
Renters of industrial properties are facing sticker shock in the current inflationary environment, with national effective rent growth expected to increase nearly 23% year over year in 2022. “Although industrial has a reputation for shorter lease terms, the reality is that the weighted average lease term for industrial is around five to seven years, much
Industrial developers would be wise to plan ahead—and carefully—as materials constraints continue to plague the building process and elongate delivery timelines. But what is the one thing they shouldn’t do? Delay construction.
It may be 2022, but many of the forces that drove the economy in 2021 are still in the driver’s seat. The long-term upward trend of e-commerce is stronger than ever. The supply chain that gets products from websites to consumers is still not performing well. Inflation is rising, and the Federal Reserve probably will