“Due to rising occupancy costs as a percentage of revenue, we anticipate that users will continue to become wiser in how they utilize space.” That is according to Pat Ward, founder of MetroGroup Realty Finance. In celebration of GlobeSt.com's 15th anniversary, Ward tells GlobeSt.com that in 15 years from now, we should also expect to see increased innovation in handling of goods in industrial buildings.
Large deep water port markets, he adds, will continue to thrive.
According to Ron Washle, senior managing director of Newmark Grubb Knight Frank, building clear heights will get higher as land prices continue to rise. “Developers will also need to build buildings to accommodate the end users' desire for higher efficiency,” he says. “For example – larger truck courts to accommodate the need for trailer storage.”
He adds that due to the fact that land supply is constrained in the Inland Empire, CA's west end (Ontario area), “users will continue to move further east to areas like Moreno Valley, Perris, San Bernardino, Redlands, Beaumont, and the High Desert region to find available land to build these facilities.”
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