While the industrial sector may be softening, there are still plenty of signs of momentum to be found in certain areas, according to Green Street's latest industrial sector update.
First the bad news: Overall transactions plummeted by 40% year-over-year in Q1 due to persistently wide bid-ask spreads and decreased availability and higher cost of debt financing, especially for larger-check-size portfolio deals.
On the flip side, though, report authors Vince Tibone and Jessica Zheng point to cold storage demand, rising NOI forecasts and cash-releasing spreads — especially at Prologis — and Houston and East Coast port activity.
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