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Bay Area Industrial Expected to Rebound Over Next Year

SAN FRANCISCO, CA-A new report by Cushman & Wakefield states that demand for industrial product should improve over the next 12 months, although slower in weaker areas like San Jose and the San Francisco Peninsula.

By Joel Cone | Updated on March 15, 2002

SAN FRANCISCO, CA-Although hit hard by the national recession, demand and rents for warehouse/distribution properties and other industrial product in certain sectors of the Bay Area are expected to turnaround quicker than other sectors during the next 12 months, according to officials at Cushman & Wakefield.

“As the economy recovers from recession, industrial markets are likely to recover first,” said Maria T. Sicola, Senior Managing Director of Research for Cushman & Wakefield, in a company report released Tuesday.

John McManus, a director at the firm’s Oakland office, believes that the teardowns of industrial product and conversion to office space and residential product over the past five years, combined with lack of available land for new construction, has helped to soften the blow of the economic downturn in the San Francisco East Bay area.

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