These are the crazy times in CRE. I have been leasing office space for 38 years and have NEVER seen the discrepancy in Office vs Industrial so great. It’s a tale of two markets for sure.
Below, find a list of Office and Industrial buildings under construction as of Q2 2022. The difference between Office and Industrial is staggering.
Here are some takeaways:
–Office is not getting overbuilt.
–Industrial is on fire. They leased 5X their normal amount in 2021 and are on track to lease 3-4x in 2022.
–Even with all the industrial leasing, there is still a ton of spec industrial being built.
–It`s a CRAZY market.
Email me with any questions or if you want to discuss this further.
Click here for the full report.