MAREJ A dvertisers D irectory A — February 14 - 27, 2014 — Mid Atlantic Real Estate Journal ACE Mentor..................................................... 10C All-Rite Construction. ...................... IC-C & BC-B Altoona Blair...................................................... 2C Barry Isett.......................................................... 5C Bayshore Recycling. .............................6A, 6B, 2D BL Companies.................................................... 8C Bohler................................................................. 4C Bussell............................................................. IC-B Commercial Choice.......................................... 15C Cooper Horowitz.............................................. 18A Cushman & Wakefield....................................... 5B Deerwood.......................................................... 14A Diversified Financial....................................... 13A Diversified Rack............................................... 11B Door & Gate USA. ........................................... 13D Earth Engineering....................................6B & 9C Entech Digital Controls. ................................... 4D EPG &P............................................................ 11D G & C Electronics............................................ 14D Gebroe Hammer. ............................................. 14B Gerard Construction........................................ 10B GFCIB.............................................................. 16A GNDEP............................................................... 8A Grant Street..................................................... 13C GREP.................................................................. 2C Griffinland. ........................................................ 4C Harvey Hanna. .................................................. 9A Heller Industrial ............................................... 3B Hinerfeld............................................................ 1C HT Lyons............................................................ 5C Kaplin Stewart. ................................................. 2A Kearny Federal Savings................................. IC-A Keast & Hood................................................... 11C The Kislak Co. ................................................. 13B Landcore............................................................. 8C Landmark. ......................................................... 2C Lee & Associates................................................ 1B M. Miller & Sons................................................ 3A Marcus & Millichap........................................... 3A MBA.................................................................... 9B Mericle............................................................BC-C Meridian............................................................. 8B Michael Cervelli RE. .....................................BC-D MSB.................................................................... 6D NGKF............................................................... 14C NJ IFMA. ........................................................... 6A Northern Waterproofing.................................. 15D NorthMarq....................................................... 16C O’Donnell & Naccarato...................................... 7C Oppenheimer. .................................................... 1A P.O.A................................................................... 5A Penn-Northwest............................................... 12C Poskanzer Skott............................................... 12B Precis Engineering............................................ 6C Procida. .......................................................... FC-C Provident Bank..............................................BC-A PWC. .................................................................. 6A Rational Contracting......................................... 4B Real Property Capital...................................... 12A Rittenhouse........................................................ 3C Robert Blue........................................................ 9C Sebco......................................................... 2B & 1D Sheldon Gross ......................................... 3B & 3D Singer Financial.............................................. 15A Specialty Building Systems. ............................. 5D TUG Branding................................................... 6A WCRE................................................................. 4B Whitesell............................................................ 2B Wilkin & Guttenplan P.C...............................IC-D
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Mid Atlantic R eal E state J ournal Publisher ............................................................................ Linda Christman Publisher ............................................................................... Joe Christman Publisher/Senior Account Executive ................................. Elaine Fanning Section Publisher .................................................................... Steve Kelley Senior Editor/Graphic Artist .................................................Karen Vachon Production Assistant ....................................................................Julie King 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. Rockland, MA 02370 USPS #22-358 | Vol. 26 Issue 3 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 Correction: A headshot In the Jan. 31st issue of the Mid Atlantic RE Journal ran incorrectly. Michael Smith should have ran in the Greater Newark editorial piece. The Mid Atlantic RE Journal apologizes for the mistake. We take full responsibility . The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
Mid Atlantic Real Estate Journal
John Morris
Cushman & Wakefield: U.S. industrial sector performance strongest since 2005
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EWYORK,NY —Inits strongest performance since 2005, the U.S.
industrial real estate market saw 328.5 million s/f in leasing activity and 117.2 million s/f of positive absorption in 2013, ac- cording to Cushman &Wake- field . The commercial real estate service firm this week released its year-end national market research data. “Growing demand for goods fromconsumers and businesses is propelling the industrial sec- tor into its most positive state since before the Great Reces- sion,” noted John Morris , leader of Industrial Services for the Americas . Industrial leasing activity was up 6.2% year over year. Greater Los Angeles continued to lead the nation, with 35.8 million s/f in activity, followed by Chicago with 30.9 million s/f. Seventeen of the 37markets tracked by Cushman & Wake- field reported increased activity in 2013. Northern New Jersey posted an impressive 40.0%
increase, while the PAI-81/I-78 Corridor recorded a 30.0%year- over-year increase. Additionally, net demand is up 23% from last year, with only one out of 37 markets tracked recording negative absorption. Dallas/Fort Worth led the na- tion with 15.1 million s/f of oc- cupancy gains in 2013, followed by the Inland Empire with 12.6 million s/f. As a result, the U.S. vacancy rate is tightening rapidly. It fell to 7.5% in the fourth quarter. The resulting upward pressure on rents brought the average di- rect asking rate to $5.92 per s/f in the fourth quarter of 2013, a
4.2% year-over-year increase. Ultimately, these positive fun- damentals have sparked a new wave of development. As the year came to a close, 79.4 mil- lion s/f of new industrial space was under construction, up 87% compared to year-end 2012. Morris anticipates continued progress in 2014. “Less fiscal drag and reduced uncertainty should lead to stronger eco- nomic growth this year,” he said. “Considering that demand for industrial space has been consistently strong through the economic resurgence so far, it should remain so as the recov- ery becomes more robust.” n
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