Mixed Signs of Recovery in Jones Lang LaSalle's Industrial Outlook
06/15/2010
"In the U.S., companies are slowly gaining confidence in the pace of the recovery. While occupancy costs continue to fall, tenants are seeking to take advantage of what could be all-time lows," said Craig Meyer, managing director and head of Jones Lang LaSalle's Americas Industrial Services team. "However, while industrial activity levels are improving, they are not yet translating into positive absorption."
In the United States, the national vacancy rate was 10.6 percent during the first quarter. While that marked a continued decline of the industrial property market, there were signs that recovery was on the horizon.
"The year began with some positive signs, namely the flattening of sublease availabilities and a narrowing decline in asking rents," Meyer said.
Denver, Houston, Los Angeles, northern New Jersey, San Diego, and Seattle had the lowest industrial vacancy rates. Atlanta; Central Valley, California; Charlotte; Detroit; and Phoenix had the highest.
For Canada, economists were optimistic in modest recovery for the real estate market in 2010. But the manufacturing and resource sectors will continue to suffer because of weaker trade. Mexico's border regions are still afflicted by economic problems, as well as crime and heightened military presence. Political reasons and drug crime impede the country's progress, but the Bajio and Central regions, Mexico City, and Monterrey are beginning to see more industrial tenant activity.
Project Announcements
ValorFlex Packaging Plans Bowling Green, Kentucky, Production Operations
06/30/2025
Neuro.io Plans Terrebonne Parish, Louisiana, Operations
06/30/2025
Germany-Based MTU Maintenance Expands Fort Worth, Texas, MRO Operations
06/30/2025
Cascade Die Casting Group Expands High Point, North Carolina, Manufacturing Operations
06/30/2025
BuildOps Plans Raleigh, North Carolina, Operations
06/30/2025
Point Blank Enterprises Plans Wakulla County, Florida, Operations
06/30/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024