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NAIOP: In Slow Industrial Market, Large Spaces Steal Spotlight

SCOTTSDALE, AZ-Experts comment on industrial trends and the Panama Canal, Karl Rove discusses DC goings-on and an award is presented.

By Sule Aygoren Carranza | Updated on October 21, 2011

SCOTTSDALE, AZ—Unlike in the office arena, the large-space market is the top-performing class in the industrial sector. That point was repeatedly made during the “State of the Industrial Market” session on day two of NAIOP’s “Development ’11” conference here. Mike Mullen, CEO of CenterPoint Properties, and Thomas G. Wattles, chairman of DCT Industrial Trust, shared their observations and predictions for the market in a session moderated by Chris Riley, vice chairman of investment properties for CBRE.

According to Mullen, the bigger spaces are leasing well, while the vacancies are mostly in the smaller space. “If you have a site ready to go and can offer logistics savings, it’s easy to get someone to sign a deal,” he said. Still, the growth isn’t across the board. “It’s in supply-constrained markets, and if you can offer a value proposition, you can get occupants,” Mullen commented.

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