The boom in demand and prices for industrial sites continued to be the leading story in land during the second half of 2015, with no signs of a looming market correction as of yet. Industrial developers continued to compete for the best sites to take advantage of the current cycle, as well as to gain long-term positions for the future.
With the first quarter behind us, Cushman & Wakefield/NorthMarq’s Luke Appert offers insight on the land market moving forward in 2016. “We continue to see large industrial distribution activity as developers attempt to gain control of the last remaining sites with hopes for landing some of the larger user driven deals. Retail developments continue to remain very strong in 2016. Retail tenants are aggressively chasing unoccupied space and driving rents to new heights.”
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Luke Appert is a Senior Director in the Land Group.