"At this point, I anticipate the industrial market will fare as well as or slightly better than last year," Macoicz continues. "So much will depend on companies' optimism about the economy and their willingness to commit to real estate decisions rather than postpone. The biggest wild card will be how much sublease space comes on the market."
The darkest cloud hanging over the market is a 12.7% vacancy rate in the 421-million-sf warehouse/distribution sector, according to Cushman & Wakefield's report. The 53.4 million sf of available space was an 8% increase from the end of the year. Meanwhile, the vacancy rate in manufacturing space was a healthy 5%.
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