Q2 shows positive U.S. industrial leasing activity

TRD 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

Related Article


Embattled Prodigy Network CEO Rodrigo Niño to step down

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Multifamily market still reigns in Queens, Blackstone balks after rent reforms and more of the biggest CRE trends right now

Real estate titans … and their toys

Developer seeks $40M for Opportunity Zone site in downtown Newark

This East End icon might finally be closing in on a sale

Who needs New York? Garden State multifamily portfolio trades for $146M

How much for that CVS building? In Greenwich, the price is $30M