The formerly full-speed-ahead industrial market is struggling to hit its stride this year. Tenants for industrial buildings are taking longer to sign leases. Vacancy rates are climbing. The industrial development pipeline is at seven-year lows. And though executives at some of the nation`s largest industrial REITs believe the slump will be short-lived, there is no sign yet that a turnaround is imminent.
“If you step back, there`s really not been any positive economic news, whether it`s global unrest, or interest rate cuts that were supposed to start in March of this year, or one of the most unusual elections I think any of us have seen,” said Marshall Loeb, president and CEO of EastGroup Properties, during the company’s Q3 earnings call last week. “There hasn`t been a real boost of confidence.”...
RSK: A definite slow down in the sector but in retrospect it had become a bit overbuilt. Many had put off decision making before the election, but now that the election is over I am betting we will see a slight uptick...
Share this article on you social outlets
Our Sponsors
- - Volume: 24 - WEEK: 46 Date: 11/12/2024 12:16:20 PM -