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Industrial's Slow Climb

BOSTON-The US industrial market is on its way back, says CB Richard Ellis' Econometric Advisors forecast. But its return will be as fast as a turtle in molasses.

By Ryan Clark | Updated on September 16, 2010

BOSTON-According to CB Richard Ellis’ Econometric Advisors forecast, the industrial market will see national availability peak at 14.2% by the end of 3Q10. However, the fourth quarter will begin availability’s decline, eventually dropping almost a full percentage point lower by this time next year.  Notably, industrial markets in the hardest hit areas of the housing crisis are ticking up; areas such as California, Florida and Nevada.

“What drove the warehouse demand were things like furniture and construction materials,” explains Luciana Suran, economist, CBRE-EA. This led to poor performance in those markets warehouse space as those housing necessities declined with the bottoming market.  “In the past two quarters, we’ve started to see demand in some of the major markets in those areas,” Suran tells GlobeSt.com. “Los Angeles for example, has seen positive demand.”

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