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


Related Articles

arrow_forward_ios
Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
Best Buy has closed about 20 of its big-box stores in each of the past two years (iStock)
Best Buy lays off 5,000 staffers, increases store closures
Best Buy lays off 5,000 staffers, increases store closures
Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Cushman & Wakefield CEO Brett White
Cushman reports 10% drop in revenue in 2020
Cushman reports 10% drop in revenue in 2020
Central Queens Academy's Ashish Kapadia and United's Chris Jiashu Xu with a rendering of 88-08 Justice Avenue (Linkedin, iStock)
Charter school takes 85K sf in Queens condo building
Charter school takes 85K sf in Queens condo building
(IStock illustration by Kevin Rebong)
Smaller cities look to cash in on shift to remote work
Smaller cities look to cash in on shift to remote work
421-427 East 14th Street (Google Maps, iStock)
Stuy Town to get new 17K sf grocery store
Stuy Town to get new 17K sf grocery store
Photo illustration of Mayor Bill de Blasio as Uncle Sam (iStock, Getty/Illustration by Kevin Rebong)
NYC has $1.3B in unpaid property taxes
NYC has $1.3B in unpaid property taxes
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...