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Gathering Finds Industrial, Retail Relatively Strong

SAN FRANCISCO-According to one participant, a recent gathering of TCN Worldwide Real Estate affiliates revealed that despite a general flatness in the commercial real estate market the industrial and retail sectors of commercial real estate have remained strong.

By Michelle Savage | Updated on June 10, 2002

SAN FRANCISCO-The industrial and retail sectors of commercial real estate have remained relatively strong throughout the United States over the past nine months, according to Hans Hansson, head of locally based Starboard TCN Worldwide Real Estate, who recently returned from a gathering of TCN Worldwide affiliates.

According to Hansson, demand for larger distribution facilities, as well as un-interrupted expansion by large retailers into markets that they currently do not service, leads growth in these two markets. Hansson says that, during the meeting, participants questioned why these two markets continue to strive through uncertain economic times.

“Howard Carr from the Howard Group TCN in Albany indicated that consumers still have money in their pockets to spend and retailers promoting growth in selling essential products continue to want to expand,” reports Hansson. “He further added that the recent first wave of Kmart closures was quickly re-leased. The retail market is watching carefully how much interest the next wave of Kmart closures retailers will have in re-leasing these properties.”

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