Execs Term Market's Weakness Fiction

HASBROUCK HEIGHTS, NJ-Yesterday’s RealShare Industrial East conference, sponsored by Real Estate Media, focused on the industrial sector in both a local and a national/international sense. Against that backdrop, two top real estate execs fielded 10 questions on market trends in a unique Fact or Fiction session format. The final question was, “Has the industrial real estate market in the East peaked, and we just don’t know it?”

“Absolute fiction,” responded Michael Brennan, president and CEO of First Industrial Realty Trust. “The eastern region may be one of the best in the country,” he added, citing the region’s assets, including proximity to markets and shipping routes.

“Fiction,” similarly responded Jim Lee, president and COO of Opus East. “The reality is, we’re tearing more buildings down that are obsolete than other regions have buildings. This market has intrinsic values and the overall opportunity is still here.”