LOS ANGELES—During a recent session at the national GlobeSt. Net Lease fall conference, net lease REIT executives discussed new opportunities to diversify portfolios and examined market shifts that are having an impact on operations.
For panelist Michael McKenna, vice president of leasing at Rexford Industrial, the firm's leverage is still low. The current challenge for the industrial REIT mainly in Southern California is availability. "We are still seeing demand for product with rates still going up," he said. "We are 99% occupied and what is left over is rough."
While McKenna says things still haven't trickled down yet, he is curious to see if those buildings that are coming online next year will hold to what they think they can achieve. "I have seen some recent properties in the South Bay [Los Angeles] that have delivered to market and those owners are holding firm on their rate."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
