Developers Still Seeking Industrial Land

submktthumbs_land_jul2016By way of industrial land, most of the prime business parks are developer controlled or owned at this point in the cycle. While many developers are more comfortable with the land positions and inventory they possess, a select group are still looking for well-located sites.

According to Noam Newman of Cushman & Wakefield NorthMarq, “With users such as Star Exhibits, Wagner Spray Tech and Americsource Bergen leaving multi-tenant buildings for build-to-suits and thus creating additional vacancy, we anticipate more of a developer focus on build-to-suit construction rather than speculative multi-tenant buildings.”

For more details on the Twin Cities Land market, subscribe to the Compass Report.

Noam Newman is a Senior Associate in Brokerage Services.

bites_lo_landBe sure to follow our ongoing “Compass Bites” series on Twitter, LinkedIn and Facebook which offers bite-sized trends and insights stemming from the Compass Report.

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Check out our short video on highlights from the recent Compass Report. To watch, visit Cushman & Wakefield NorthMarq’s Vimeo or YouTube channels or visit the Compass website.

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