Though he sees negative absorption of space over the first sixmonths of the year, Moghadam predicted that rents will continue toincrease in sought-after locales. "I think we're going to come outof this in better shape than most places," he said, referring toNew Jersey's high-volume ports.

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San Francisco-based AMB, which operates 147.7 million sf ofindustrial space in 14 countries has room for growth, even.Moghadam said that the company is looking to expand in Brazil andcould consider Chile and Argentina as future markets.

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One aspect of the industry as a whole that seems to be expandingis sustainable building, according to I.con speakers. Developersare starting to put solar panels on warehouse roofs so that theirbuildings turn into energy sources, and some are looking at placingtheir projects closer to ports and other transportation centers inefforts to cut back the amount of fuel used to transportproducts.

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But some tenants are still slow to join the push because of theperceived costs of green buildings, said Michael Laffey, a CBRichard Ellis director. "I've seen more skepticism than interest ormore questions than answers," he said.

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Though it might seem far off in the future, the industry couldstart pushing for multi-level industrial products in the US thatare now seen in countries like Japan to save space, said AaronBrinkley, AMB's director of sustainability programs. "As land-pricepressure increases, you might see this sort of facility creep outof Japan, he said.

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