Just when the industrial market seemed like it could not get any stronger, the new year has seen demand for space far outpace the supply of new product, according to a new report by NAIOP.
Rents have correspondingly increased rapidly, and many firms simply cannot find space to lease.
"The scarcity is so great that firms are getting creative by renting properties that can be adapted to serve their purposes, locating facilities further away from their final destinations and building vertically," according to the report.
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