2A — July 31 - August 13, 2015 — M id A tlantic
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Advantage Engineers..............................................11B Alpha Funding Solutions..........................................8C American Architectural Window & Door.................1B ARD Appraisal.........................................................11A Arrow Steel Inc........................................................23B Beacon Commercial RE...........................................10C Berkadia Commercial........................................... BC-A Bernardon................................................................15B BH Security. ..............................................................8B Bohler Engineering. ................................................17B Canariis Corporation...............................................22B Capitol Aerials.........................................................30B CenterPoint Properties. ......................................IBC-C CORFAC International......................................... IC-C Crystal Window & Door Systems.............................2B Cushman & Wakefield. .............................................1C Distinct Engineering Solutions, Inc.......................14B E.B. Cohen.................................................................6B Earth Engineering, Inc.. .........................................18B Ehrlich, Petriello, Gudin & Plaza.............................7B Elliott-Lewis. .............................................................5B Fowler Companies...................................................34B Heller Industrial Parks.............................................7C Hillcrest Paving & Excavating...............................17A Hollenbach Construction, Inc.................................16B Integrated Business Systems. ..................................3B Investors Real Estate Agency.................................17A IREM.................................................................. 36-37B Jewel Electric Supply Co.........................................30B Keast & Hood...........................................................16A Landmark Science & Engineering..........................19B Lee & Associates........................................................3C LEW Corporation. ...................................................30B M. Miller & Son.........................................................4B Manekin...................................................................17A Manko Gold Katcher Fox LLP................................33B Marcus & Millichap............................... 17A, 6C, BC-C Meridian Capital Group..........................................11C Mission Capital..........................................................1A Murray Associates Architects, P.C.........................10B NAI Emory Hill. ......................................................12C NAI Mertz................................................................15C NAI Summit...................................................... 17A, 5C Newmark Grubb Knight Frank..............................13C NJ IFMA..................................................................25B NJAA........................................................................34B P. Cooper Roofing. ................................................ BC-B Poskanzer Skott Architects.....................................12B Premier Compaction Systems, LLC. .............. 13B,31B RD Management.................................................... 4-5A Real Property Capital..............................................16A Rittenhouse Realty Advisors. ...................................4C SESI Consulting Engineers....................................17A Site Drainer.............................................................26B SORCE Companies..................................................14C Specialty Building Systems. ................................. IC-B Subway.......................................................................6A The Kislak Co.. ..........................................................2C Total Cleaning Associates LTD. ...............................2B USGBC.....................................................................32B VandeMark & Lynch, Inc........................................20B Veraxia CRES............................................................9C Weil Pump Co..........................................................27B Williams & Williams...............................................16A WithumSmith + Brown, PC....................................35B MAREJ A dvertisers D irectory
M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher .................................................................Linda Christman Publisher ....................................................................Joe Christman Section Publisher .........................................................Steve Kelley Senior Editor/Graphic Artist ..................................... Karen Vachon Production Assistant ........................................................ Julie King Associate Publisher ................................................. Alissa Aronson Associate Publisher .............................................. Barbara Holyoke Office Manager .........................................................Joanne Gavaza Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 312 Market St. Rockand, MA 02370 USPS #22-358 | Vol. 27 Issue 14 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com
C U.S. Industrial Sees Fa- vorable Conditions with Strong Market Demand John Morris HICAGO, IL — With 74.5 million s/f of oc- cupancy gains at mid- year, the U.S. industrial mar- ket is seeing highly favorable conditions in the face of a continuing – though narrow- ing – demand/supply imbal- ance, according to Cushman & Wakefield. The commercial real estate services firm re- leased its mid-year 2015 re- search findings today. “Strong industrial funda- mentals can be found across the nation, with e-commerce retailers and logistics com- panies propelling our sector’s progress,” said John Mor- ris , leader of Cushman & Wakefield’s Industrial Services Group. “As demand recovery has matured, it has become more diversified by size and market.” Thirty five of the 38 in- dustrial markets tracked by Cushman & Wakefield posted positive absorption during the second quarter. The Inland Empire leads the nation with 12.5 million s/f of occupancy gains year to date, followed by Dallas/Fort Worth with 11.1 million s/f. Atlanta, which has benefitted significantly from increased trade volume
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
at Georgia’s ports, posted net absorption of 6.8 million s/f at mid-year. Additionally, overall vacancy continued to trend down dur- ing the past three months, to a rate of 6.6%. This is 60 basis points lower than one year ago and the lowest level since first quarter 2001. Within this context, 17 U.S. industrial markets boast rates lower than the national average. The lead- ers, all California markets, in- clude San Francisco Peninsula (2.4%), Greater Los Angeles (3.0%) and Orange County (3.5%). “The significant space ab- sorption during the first six months of the year, coupled with historically low supply, is driving strong rent growth in most major industrial hubs,”
Morris noted. “U.S. warehouse rents, at a weighted average of $5.17 per s/f, are up 3.7 % year- over-year. They are projected to grow five % by year-end and by more than 10 % over the next three years.” New industrial construction completions so far this year totaled 55.8 million s/f, which is 30.2 % higher than the same period in 2014; specula- tive construction accounted for 61.8 % of this volume. The amount of space under construction has increased as well, rising from 103.6 mil- lion s/f in the first quarter to 105.7 million s/f today. The Inland Empire is leading the way in new development, with 18.8 million s/f currently under construction, followed continued on page 12A
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