Robust Demand Drives Industrial Vacancy Rate to Lowest Point in 10 Years

CWNCompass_Industrial_Jan2016_Page_1Strong fundamentals continued for the industrial market in the second half of 2015, resulting in 2.29 million square feet (msf) of absorption. That capped a stellar year in which a total of 3.7 msf was absorbed.

Cushman & Wakefield/NorthMarq’s Hudson Brothen commented on the industrial market heading into 2016, “The market will continue to thrive in 2016, but probably not as strong as last year. One thing to note is the pent up demand for existing buildings for sale. Lack of inventory is causing a dramatic rise in prices…something to keep an eye on.”

For details on the Twin Cities industrial market and much more, subscribe to the Compass Report.

Hudson Brothen is a Senior Associate with the Minnesota Industrial Team.

 

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