Demand for industrial warehouse space has grown so intense that landlords don't have to list their available inventory, contracts are being signed that don't begin for another year and there is no negotiation on rents.
Those were among the comments from CREW Network annual conference panelists Liz Dunn, Senior Vice President, Customer Led Innovation, Prologis; Alba Colavetti, Capital Partner, Senior Associate, CRG; and Angie Kim, Senior Director of Development, Bridge Industrial; in a session moderated by Jacki Christopher, Director, National Build-to-Suit Development, Ryan Companies.
"All of our warehouses are so full we don't even have a place to keep our building materials for the next project," Kim said. "Our tenants don't even ask about rents. They'll pay anything to get what they want. A lot of it's about location and taking care of last-mile delivery."
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