CBRE

‘Not-in-my-backyard’ mindset threatens warehouse growth

Attendees at Prologis Inc.’s investors day heard pretty much what they came to hear. That included the logistics warehousing giant’s assessment of the macro environment, plans to build facilities occupied solely by data centers, its efforts to expand solar power use, and a broadening of its customer value proposition, among other things.

What they may not have expected to hear were comments from Prologis (NYSE: PLD) President Dan Letter that it is becoming increasingly difficult to build...

https://www.freightwaves.com/news/not-in-my-backyard-mindset-threatens-warehouse-growth

Real estate investors surge into electric truck charging

Somewhere around the middle of the Netflix movie “The Founder,” actor Michael Keaton’s Ray Kroc character is told that his franchise success turns on real estate, not flipping hamburgers.

The same could be said of the nascent electric truck charging business. Every electric charging depot needs land. As part of a multiprong strategy, the biggest real estate developers and a host of well-funded startups are gobbling up acreage for future sites.

The opportunity is enormous. The California Energy...

https://www.freightwaves.com/news/real-estate-investors-surge-into-electric-truck-charging

Real estate developers acquire Arizona site for rail-served facilities

Commercial real estate developers Trammell Crow and CBRE Investment Management have acquired a nearly 200-acre site in Mesa, Arizona, with plans to prime the site for rail-served industrial development.

The 192-acre site — the largest developable site in Maricopa County, according to developers — will be divided into “shovel-ready” lots that range from 12 acres up to the full site. Companies seeking large-scale sites for industrial development, such as those in the semiconductor industry, could...

https://www.freightwaves.com/news/real-estate-developers-acquire-arizona-site-for-rail-served-facilities

Warehouse leasing forecast to fall as much as 15% in 2023

U.S. industrial and logistics leasing activity will decline by 10% to 15% in 2023, though for the 13th consecutive year more industrial square footage will be absorbed than will be vacated, real estate services firm CBRE Group Inc. said Thursday.

Industrial vacancy rates, already at historic lows, will increase just slightly next year, CBRE said.

Nationwide vacancy rates currently sit between 3% and 4% and in several top-tier markets are well below those levels. CBRE (NYSE: CBRE) classifies...

https://www.freightwaves.com/news/warehouse-leasing-forecast-to-fall-as-much-as-15-in-2023

Warehouse rents near cargo airports skyrocket, report says

A forklift operator picks up pallets in a warehouse.

Rising expectations for fast delivery of high-value products has fueled demand for near-airport warehouses and forced tenants to pay substantial rent premiums compared to other industrial spaces in large metropolitan areas, according to a new report from CBRE. 

The Dallas-based commercial real estate services and investment firm found that average rents for warehouses within a 5-mile radius of major airports are 18.8% higher than the average for the region. The analysis covered the 20 busiest...

https://www.freightwaves.com/news/warehouse-rents-near-cargo-airports-skyrocket-report-says

Big-box warehouse lease activity sets record in 2021

It was another big year for the big box.

Companies signed a record 57 U.S. warehouse leases of 1 million or more square feet in 2021, up 19% from 2020 levels, according to data published Thursday by real estate services firm CBRE Group Inc. (NYSE: CBRE). Of the 100 largest manufacturing and logistics leases — which include the 57 megaleases — the average transaction size grew slightly to 1.05 million square feet from just under 1.04 million square feet. CBRE tracks manufacturing and logistics...

https://www.freightwaves.com/news/big-box-warehouse-lease-activity-sets-record-in-2021

CBRE Investment snaps up $4.9B global logistics real estate portfolio

CRBE Investment Management, a subsidiary of global real estate company CBRE, is buying $4.9 billion worth of logistics real estate

In one of the largest industrial real estate transactions in history, CBRE Investment Management, the investment arm of CBRE Group, the world’s biggest commercial real estate company, is buying up a $4.9 billion portfolio of logistics properties from Hillwood Investment Properties, a real estate business founded by Ross Perot Jr.

The portfolio, which includes more than 57 real estate assets, comprises over 28 million square feet of warehouse space — about 19 million of them are in the U.S., with...

https://www.freightwaves.com/news/cbre-investment-snaps-up-49b-global-logistics-real-estate-portfolio

Rents on warehouse lease renewals at nosebleed levels, CBRE says

It’s been dubbed “sticker shock” for logistics warehousing lessees, but given the extreme tightness of industrial real estate and the bullish demand trends seen for the rest of the decade, the prospect of soaring renewal rates on multiyear warehouse leases shouldn’t come as a surprise.

That said, the magnitude of the projected increases, at least those published on Monday by CBRE Services (NYSE:CBRE), is eye-popping. For example, the average five-year rent on renewals in the Philadelphia market...

https://www.freightwaves.com/news/rents-on-warehouse-lease-renewals-at-nosebleed-levels-cbre-says

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