Industrial

The latest deals, trends, personnel moves and projects in the Midwest region.

Absorption rate gains were concentrated in distribution properties located in core markets such as Dallas/Fort Worth, which also had some of the highest number of rooms under construction at 7,047.

The US Energy Information Administration forecasts that West Texas Intermediate crude will be priced at an average of $51 per barrel in 2018, continuing a stabilization of energy pricing that prevailed in 2017.

Overall, commercial property pricing slipped in November for the seventh consecutive month, a trend that Ten-X's Peter Muoio says is a reflection of ongoing investor wariness.

It isn't only growers that are creating new real estate demand, but the ancillary businesses like fan manufacturing and soil specialists that will also grow as a result of legalization.

Industrial markets such as Milwaukee, Nashville, and Cincinnati, among others, have solid population growth, good transportation links, as well as cheaper labor and lower construction costs than big markets like Chicago.

Jim Hirt brings 22 years' experience managing staff and volunteer leaders to SIOR, and plans to further solidify the organization's status as “an active global community.”

Westport Properties is investing in infrastructure and a community park to win community support for a self-storage development in Compton.