Grubb & Ellis: 2011 Real Estate Forecast
Grubb & Ellis expects the industrial real estate market to generally improve in 2011, but fuel prices will affect the sector in unpredictable ways.
Vacancy rates dropped to 10.6 percent in the third quarter, and finished the year at 10.4 percent. Now markets such as California's Inland Empire are experiencing renewed demand, again driven by imports.
In 2011, the vacancy rate will hit an estimated 10.1 percent by the end of the year, and 9.3 percent by the end of 2012. And industrial properties in areas near transportation hubs (Chicago's O'Hare and Los Angeles' South Bay) will see user demand spike.
While recovery is expected to strengthen, the effect of fuel prices on expansions remains uncertain.
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