‘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

Hitting the reset button: Why the industrial development pause is a good thing 

By Craig Hurvitz

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

Recent data showing a dramatic decline in warehouse construction starts has some in the sector worrying about a lack of first-generation industrial space due to limited development activity. 

Indeed, the slowdown is noticeable. Total space under construction peaked at 638 million square feet in mid-2023 before falling 17% to 546 million square feet...

https://www.freightwaves.com/news/hitting-the-reset-button-why-the-industrial-development-pause-is-a-good-thing

Chicago industrial real estate powers through Fed rate hikes

The Chicago industrial real estate market, surpassed in importance only by the Southern California region, is demonstrating great resilience heading into 2023 with leasing demand remaining strong, according to research published Wednesday by real estate services firm Colliers International Group Inc.

That’s the good news. The not-so-good news is that “taking rents” — rents that tenants accept after a landlord’s initial proposal and follow-up negotiations — will remain elevated following a 14%...

https://www.freightwaves.com/news/chicago-industrial-real-estate-powers-through-fed-rate-hikes

Chicago industrial real estate vacancy rate falls to record low

Boxes and loose cargo spread around warehouse floor.

The country’s hottest industrial real estate market got hotter in the first quarter of 2022, fueled in part by eye-popping data from one of its submarkets.

Chicago’s first-quarter industrial vacancy rate fell to 4.9%, the lowest vacancy rate ever recorded in the market, according to a report published Tuesday by real estate advisory Colliers International Group Inc. (NASDAQ: CIGI). Chicago’s vacancy rate dropped 53 basis points just from the fourth quarter and fell nearly 175 basis points from a...

https://www.freightwaves.com/news/chicago-industrial-real-estate-vacancy-rate-falls-to-record-low

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