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Premier Industrial commercial real estate news, analysis, trends and information including warehouse, distribution, logistics, e-commerce, self storage and R&D space deals and players.
The decline in consumer spending has pushed owners to reduce asking rents and offer concessions.
However, single-family residential, land/development and office all were described as overpriced.
A slowdown in construction starts in recent years may lead to a rise in overall asking rents for industrial properties.
A drop-off in oversupply coupled with continued strong e-commerce activity will positively impact the industrial sector.
The facility spans 1.22 million square foot.
Lam Research pre-leases 60% of 760K SF OMP Oaks Business Park.
The largest industrial metros saw a vacancy increase of 202 BPs and asking rents were up 5.3%.
The company sees "strong returns" coming in the future on the asset.
See our picks for 2024.
It's not just multifamily that is feeling pressures from construction and changes in supply.