MIAMI—Industrial employment is up across the nation and the industrial sector continued to register healthy demand numbers in the first quarter of 2014, according to Cassidy Turley‘s U.S. Industrial Trends Report for the 1st Quarter. But how does that translate to leasing?
Let’s take a closer look at Miami’s recent performance before answering that question. Miami posted $69.5 million in industrial sales in the first two months of the year, with an average sales price of $109 per square foot, according to Real Capital Analytics. On the leasing front, Miami saw a 521-square-foot absorption in the first quarter, CT reports.
We caught up with Blake Anderson, managing director and principal of Cassidy‘s Dallas office, to get his take on these and other industrial leasing questions. Be sure to come back this afternoon for part two of this exclusive interview, in which he’ll offer nuts and bolts about his own industrial leasing strategies.
GlobeSt.com: What is the state of industrial leasing and how has it changed over the past 12 months?
Anderson: Incredible velocity of the deal flow both nationally as well as locally in the Dallas-Fort Worth area.
GlobeSt.com: Is it easier or more difficult to get industrial leases done? How creative do you have to get these days?
Anderson: I do not believe leases are easier or more difficult now versus in the past. I do believe time is more of the estimate now and clients are making decisions faster. Our job is to always be creative, creating flexibility for the client ensuring productivity as well as mitigates business risk.
GlobeSt.com: What trends are you seeing in industrial leasing?
Anderson: Bigger, better, more efficient—that is with everything whether it is new T5 lighting, higher clear height to maximize cube space, or more trailer parking. The latest substantial trend is being set by Amazon, they are pioneering the way to larger, more efficient distribution centers as well as fulfillment centers. All of this is being driven by next day or same-day delivery of products.