"Smaller tenants who need 5,000 sf to 50,000 sf are the mostactive" prospects, Livingston tells GlobeSt.com. He is so convincedof this market niche that he has formed Small Bay Partners LLC todevelop small-bay warehouse properties in metro Orlando.

Despite the struggling national economy, the developer sees"many bright spots in the industry, most of them on the locallevel."

He says disparities between local economies and the UnitedStates as a whole probably result from the way real estateexecutives collect information for analysis.

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