Q2 shows positive U.S. industrial leasing activity

New York /
Aug.August 23, 2012 04:00 PM

Industrial leasing in the second quarter of 2012 has stayed active in most markets nationwide, World Property Channel reported. The data comes from CBRE’s U.S. Industrial MarketView Report, which said that industrial availability fell 20 basis points to 13.2 percent in the second quarter.

There are several reasons for this development, World Property said. Tenants want to grab favorable lease terms while they can, and industrial users are purchasing their spaces because of the historically low interest rates.

And over the coming years, industrial leasing should be even more active — primarily due to the expansion of the Panama Canal, which is slated for completion in 2015. The expansion of the canal, which will allow for larger vessels to pass through, has spurred dredging and development on the East Coast.

For example, Port Newark in Newark, N.J., is now undergoing a $650 million expansion. And as The Real Deal previously reported, ground broke last month near that site for a $50 million warehouse. [World Property Channel] — Zachary Kussin


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