Industrial Land Grab

Cynthia J. Hoffman is editor of Real Estate Forum, from which this article is excerpted.

With a national vacancy rate in the single digits and a steady call for space from tenants, it’s no wonder there’s a flood of industrial development in the works. But there’s a downside to every upturn, and a healthy market inevitably leads to increased competition, particularly when it comes to available land.

“There is a surge of new construction across the country, with everyone from the major national developers to the strong regional and local players active right now,” states Whitfield Hamilton, Eastern regional partner for Panattoni Development Co. in Nashville. “The economy is good, and Fortune 500 firms down to smaller companies are growing their businesses and need more space.”