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Industrial Sector to Lead National Recovery

NEW YORK CITY-Cushman & Wakefield executive vice president Jack Fraker predicts the industrial sector will be the first US real estate market to recover, fueled in part by consumer confidence. The office sector is projected to pick up soon thereafter.

By Michael Gilliard | Updated on March 14, 2002

NEW YORK CITY- Cushman & Wakefield executive vice president Jack Fraker tells GlobeSt.com that the industrial sector will lead the US real estate recovery, set to occur by mid-year 2002. Its resiliency and flexibility have traditionally armed the industrial market to spearhead real estate recovery after an economic slump.

“Industrial markets don’t have as quick a downturn as other areas and also rebound more quickly because they can halt the delivery cycle faster than, say, office builds,” Fraker tells GlobeSt.com. “Once you start an office building, you’ve committed to finishing it.”

Strong consumer spending through out the downturn will also hasten the market’s return. “Industrial recovery is tied directly consumer products and retail sales,” says Fraker. “It is a directly proportional relationship.” He predicts a more rapid industrial recovery to occur in the heavy defense and tech-space regions of Long Island and Northern Virginia. A quick response will also be felt in the bulk-distribution areas of Los Angeles, Dallas, Chicago, Atlanta and Northern New Jersey.

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