(Read more on the industrial market.)
ORANGE COUNTY, CA-The latest figures from Voit Commercial Brokerage show an industrial sector that remains steady, though not spectacular. According to the report, product under construction has dropped nearly in half from a year ago. Only 897,965 sf are under way compared to 1.6 million sf in Q3 2006.
That drop off is due in part to a lack of available land, according to Voit analysts. “The shrinking availability of land is only allowing for the development of primarily small, for-sale industrial buildings,” according to the report. “This lack of available land, coupled with the high land prices and rising construction costs, has lead to few mid-size buildings and distribution centers being developed in this infill market.”
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