Clear signs of recovery

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Industrial market: Clear signs of recovery


SEATTLE – Feb. 11, 2011 – Coinciding with a noticeably improved United States office market, the national industrial property sector absorbed 28.6 million square feet of space during the fourth quarter of 2010, propelling what had been a net loss for the year into a solid gain, according to quarterly research on the U.S. industrial market from Colliers International Q4 2010 North America Industrial Highlights. According to Colliers, the growth likely heralds the beginning of the next up cycle for the industrial sector as demand for warehouse space – fueled by an increase in import and export activity and an improving consumer appetite for goods – is expected to rise.
A handful of markets – including Charleston, Cincinnati, Dallas-Ft. Worth, Inland Empire, Little Rock, New Jersey, Philadelphia, Phoenix and Savannah – saw a substantial jump in occupied space relative to their size and contributed nearly 70 percent of total occupancy gains. Because the sizable growth can be attributed to on a few markets, however, Colliers says expectations should still be tempered until the turnaround expands into additional markets.
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