NOT FOR REPRINT
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
An error occurred while fetching the data.
Error details: Error: INTERNAL_ERROR for 6aa67c57-5728-5dd9-aad7-0297515d4a82: {"response":{"errors":[{"message":"INTERNAL_ERROR for 6aa67c57-5728-5dd9-aad7-0297515d4a82","locations":[{"line":93,"column":7}],"path":["youmightlike"],"extensions":{"classification":"INTERNAL_ERROR"}}],"data":{"articleData":{"uri":"/2022/11/14/industrial-and-multifamily-sectors-stay-resilient-amid-economic-headwinds/","canonicalUrl":"https://www.globest.com/2022/11/14/industrial-and-multifamily-sectors-stay-resilient-amid-economic-headwinds/","generatedId":"fmj45fhdmmk","naturalId":"blogAndPostId/blog/post/296-240997","recombeeId":"296-240997","type":"ARTICLE","postFormat":"news","kickerPresentedBy":{"label":"","value":""},"breadcrumb":[],"presentedBy":"Thought Leadership","title":"Industrial and Multifamily Sectors Stay Resilient Amid Economic Headwinds","readtime":"3","timeToRead":"3 minute","prettyModified":"","prettyDateTime":"November 14, 2022 at 03:45 AM","needToKnow":[],"byline":"Brian A. Lee","nofollow":false,"showDisclaimer":true,"authors":[{"name":"Brian A. Lee","description":"Brian A. Lee is an Atlanta-based freelance writer and former editor of Western Real Estate Business magazine. The Wake Forest and University of Georgia graduate has covered commercial real estate since 2000.","imageLarge":"https://secure.gravatar.com/avatar/dd2b7c69a4d4085b3ff9cb454158be5f?s=136&d=mm&r=g","webUrl":"/author/profile/brian-a-lee/"}],"publication":"Globe Street","kicker":"Thought Leadership","kickerNode":[{"name":"Thought Leadership","slug":"thought-leadership-kicker","uri":"/thought-leadership-kicker/","sectionName":"Thought Leadership"}],"prettyDate":"November 14, 2022","pubDate":"2022-11-14 03:45:41.000","modifiedDate":"","isDownload":"false","primaryCategory":{"channelName":"","sectionName":"","name":"","uri":"","slug":"","channelUri":""},"tags":[],"image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2022/11/Lee-Associates-Jeff-Rinkov-616x372.jpg","width":"616","height":"372","alt":""},"embed1":"","embed2":"","summary":"Rent growth in both the industrial and apartment sectors continue to turn heads, according to Lee & Associates report.","categories":[],"allCategories":[{"sectionName":"Los Angeles","channelName":"GlobeSt Market"},{"sectionName":"National","channelName":"GlobeSt Market"},{"sectionName":"","channelName":"Globest Sectors"},{"sectionName":"Industrial","channelName":"Globest Sectors"},{"sectionName":"Multifamily","channelName":"Globest Sectors"},{"sectionName":"","channelName":"GlobeSt Thought Leaders"},{"sectionName":"Lee & Associates","channelName":"GlobeSt Thought Leaders"},{"sectionName":"","channelName":"Globest Topics"},{"sectionName":"Economy","channelName":"Globest Topics"},{"sectionName":"","channelName":"Kicker"},{"sectionName":"Thought Leadership","channelName":"Kicker"},{"sectionName":"","channelName":"Region"},{"sectionName":"West","channelName":"Region"},{"sectionName":"","channelName":"tag"},{"sectionName":"Free","channelName":"tag"}],"bodyArray":["<p>The current economic headwinds have been a cause for alarm in certain sectors. Not so for industrial and multifamily, however. With US industrial vacancy at 4% and multifamily's pipeline tightening, the data from <strong>Lee & Associates</strong>' <a href=\"https://www.lee-associates.com/research-article/2022-q3-north-america-market-report/\" target=\"_blank\">Q3 2022 Market Report</a> shows both sectors have room for rent growth.</p>","<p>It's a story about fundamentals that point to continued strength, according to <strong>Jeff Rinkov</strong><strong>, CEO</strong> <strong>of the broker-owned real estate services firm.</strong></p>","<p><strong>Industrial Strength Continues Beyond Amazon</strong></p>","<div class=\"paywall-content\"><p>\"The industrial leasing story continues to be the strongest theme maybe in all of commercial real estate with demand remaining robust,\" Rinkov said. \"We see pre-leasing of Class-A buildings and a rising tide of rental rate growth for B and C buildings that are well-located. Historic rate increases and rental growth are supporting the development and have been supportive of higher land prices for the last several years.\"</p>","<p>Industrial vacancy at end of the third quarter settled at that 4% number, up 10 basis points from Q2, <a href=\"https://www.lee-associates.com/research-article/2022-q3-north-america-market-report/\" target=\"_blank\">according to the Lee & Associates market report</a>. Approximately 850 million square feet of industrial space are under development in the US with about 38% pre-leased.</p>","<p>\"How the other 62% of that product gets leased and how quickly I think will tell the story for the next 18 months,\" said Rinkov, adding that there is space coming back to the market, led by Amazon shedding millions of square feet of warehouse capacity, but it is getting absorbed very quickly and at \"higher and higher rates.\"</p>","<p>Stout industrial rent growth has been quite evident in US port-adjacent markets, but Rinkov highlighted a 1.194 million-square-foot industrial leasing assignment by Lee & Associates in Columbus, OH, as a strong testament to sector strength. The fact that a distribution center in a secondary market was quickly absorbed by a large logistics use shows the depth of demand, both for developers searching for land and tenants looking for logistics space.</p>","<p><strong>Multifamily Moves</strong></p>","<p>Although apartment rent growth of 5.7% through Q3 was down considerably year over year, it's still more than twice the annual average rate of 2.5% over the past decade, Lee & Associates reported.</p>","<p>\"The multifamily sector has seen a very compelling story for rental increases and rent growth,\" Rinkov said. \"As a general economy, we're underhoused so housing development that is happening is being well received. We do see an interest in people returning to CBD and metropolitan submarkets.\"</p>","<p>Lee & Associates reported a 29% year-over-year increase in the average per-unit sale price to $233,974 at the end of the third quarter.</p>","<p>\"Multifamily seems to be the asset class where there's historically been the greatest amount of liquidity, cap rate compression, and the most voluminous trading because of the differentiation in the types of ownership, from the institutional to regional and all the way down to mom & pop owners,\" Rinkov said. \"Well-located product is going to continue to be developed and absorbed at very significant rental rates.\"</p>","<p><strong>Economic Uncertainty Still Lurks</strong></p>","<p>Much economically is yet to be determined as we approach 2023. Risk is always present, with the cost of development capital being a real concern, Rinkov asserted, but industrial and multifamily asset classes have proven to be resilient.</p>","<p>\"Monetary policy and the increased cost of funds along with the inflationary environment obviously present risks, but I believe the strengths of these two asset classes will win the day,\" he said.</p></div>"],"slides":[],"video":null},"youmightlike":null,"readnext":{"contents":[{"uri":"/2025/07/10/florida-ends-tax-on-commercial-rent-bringing-relief-to-tenants/","title":"Florida Ends Tax on Commercial Rent, Bringing Relief to Tenants","byline":"Anthony Russo","summary":"The removal of the tax will increase the state's competitive advantage and lure more folks to Florida. ","prettyDate":"July 10, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/2f/09/e07355b545bea551e6091b646509/kingsley-jonathan-620x372-1.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Region","sectionName":"Southeast","slug":"southeast-region-globest-markets","channelUri":"region"},{"channelName":"Globest Sectors","sectionName":"Office","slug":"office","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Retail","slug":"retail","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/10/multifamily-delinquencies-climb-amid-worsening-cre-loan-performance/","title":"Multifamily Delinquencies Climb Amid Worsening CRE Loan Performance","byline":"Erik Sherman","summary":"Growth slows, delinquencies rise, and multifamily losses hit a peak.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/04/Delinquent-Loan-Article-202304060805.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/11/top-10-cre-funds-stockpile-billions-as-market-wonders-whats-next/","title":"Top 10 CRE Funds Stockpile Billions as Market Wonders What’s Next","byline":"Erik Sherman","summary":"The funds remain unused as they await the right opportunity.","prettyDate":"July 11, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/ec/07/e42f1dd84c54b5f0c4804ce6fdad/dry-powder.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/10/disagreement-grows-among-fed-officials-on-rate-cut-timing/","title":"Disagreement Grows Among Fed Officials on Rate Cut Timing","byline":"Erika Morphy","summary":"The tariff debate is disrupting the Fed’s policy playbook.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/b1/0e/89779ab049e2a63ea4ff1d0fb5e9/fed-resize-jpeg.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Globest Topics","sectionName":"Economy","slug":"economy","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/11/multifamilys-rising-loan-maturities-create-new-buying-opportunities/","title":"Multifamily's Rising Loan Maturities Create New Buying Opportunities","byline":"Erik Sherman","summary":"Distressed sales loom amid high debt and low coverage ratios.","prettyDate":"July 11, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/3d/26/2b933d304f09aae46772f0115fa0/buying-opportunity.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]}]},"events":{"events":[{"eventTitle":"GlobeSt. ELITE Women of Influence (WOI) 2025","venueName":"","cleCredit":"no","description":"GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.","registrationURL":"","docUri":"/data-sources/events/GlobeSt.ELITEWomenofInfluence(WOI)2025:2024-09-03-04:00:33.xml","eventEndDate":"July 22, 2025","eventStartDate":"July 21, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Denver","learnMoreLinkFile":"https://www.event.globest.com/WomenOfInfluence","imageUri":"https://assets.swoogo.com/uploads/full/4358074-66d72c273ea79.png","imageUri2":"https://assets.swoogo.com/uploads/full/4358079-66d72c46e3ce4.png","practiceArea":["Diversity","Leadership & Management","Women of Influence"]},{"eventTitle":"GlobeSt. Multifamily Fall 2025","venueName":"","cleCredit":"no","description":"Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!","registrationURL":"","docUri":"/data-sources/events/GlobeSt.MultifamilyFall2025:2025-04-10-04:00:43.xml","eventEndDate":"October 15, 2025","eventStartDate":"October 15, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Los Angeles","learnMoreLinkFile":"https://www.event.globest.com/multifamily-fall","imageUri":"","imageUri2":"","practiceArea":["Multifamily"]}],"searchParams":{"estimate":2}}},"extensions":{"DateTime":"2025-07-13T00:16:20.219808388","ResponseTime":"?","AuthorizedUser":false,"AlmContext":"AlmContext{clientIP='10.0.253.254', internalIP='true', origin='', authorizedUser='false', Chinchilla, userAccount='null', UCID=null, ipAccount='null', olyEncId='null'}","NavServiceResponse":{"message":"No Content","action":"show-404","data":"","placResultsPublic":null},"DebuggingData":null,"UsedCache":"true","DataUrl":"http://ml2.alm.com:9216/bff-services/content/get-you-may-like-for-content.xqy?naturalId=/amp/2022/11/14/industrial-and-multifamily-sectors-stay-resilient-amid-economic-headwinds&site=www.globest.com&total="},"status":200,"headers":{}},"request":{"query":"\n####\n####\n# QUERY\n# ROUTE:/amp/2022/11/14/industrial-and-multifamily-sectors-stay-resilient-amid-economic-headwinds\n####\n\n\nquery Globest__view_article_amp{articleData:\n getContent(naturalId: \"/2022/11/14/industrial-and-multifamily-sectors-stay-resilient-amid-economic-headwinds\", site:\"globest.com\") {\n uri\n canonicalUrl\n generatedId\n naturalId\n recombeeId\n type\n postFormat\n kickerPresentedBy {\n \t\t label\n \t\t value\n \t\t}\n breadcrumb{\n name\n \t\turi\n }\n presentedBy\n title\n readtime\n timeToRead\n prettyModified\n prettyDateTime\n needToKnow\n byline\n nofollow\n showDisclaimer\n authors {\n name\n description\n imageLarge\n webUrl\n }\n publication\n kicker\n kickerNode {\n name\n slug\n uri\n sectionName\n }\n prettyDate\n prettyDateTime\n pubDate\n modifiedDate\n isDownload\n primaryCategory {\n channelName\n sectionName\n name\n uri\n slug\n channelUri\n }\n tags\n image {\n uri\n width\n height\n alt\n }\n embed1\n embed2\n summary\n categories {\n name\n uri\n channelName\n }\n allCategories {\n sectionName\n channelName\n } \n bodyArray\n slides {\n title\n image\n caption\n height\n width\n }\n video\n\n }\n youmightlike:\n getYouMayLikeForContent(naturalId: \"/amp/2022/11/14/industrial-and-multifamily-sectors-stay-resilient-amid-economic-headwinds\", site:\"globest.com\") {\n uri\n title\n byline\n prettyDate\n readtime\n image {\n uri\n width\n height\n }\n summary\n }\n readnext:\n getStatsList(site:\"globest.com\", topic: \"\", limit: 5, timeframe: \"3days\" ) {\n contents {\n uri\n title\n byline\n summary\n prettyDate\n kicker\n image {\n uri\n width\n height\n }\n breadcrumb{\n name\n \t\turi\n }\n primaryCategory {\n name\n uri\n channelName\n channelUri\n }\n allCategories{\n channelName\n sectionName\n slug\n channelUri\n }\n breadcrumb {\n name\n uri\n }\n }\n\n }\n events:\n getFutureEvents(\n publication: \"GlobeSt\"\n pageSize: 10\n page: 1\n ) {\n events {\n eventTitle\n venueName\n cleCredit\n description\n registrationURL\n docUri\n eventEndDate\n eventStartDate\n industry\n audience\n city\n learnMoreLinkFile\n imageUri\n imageUri2\n practiceArea\n }\n searchParams {\n estimate\n }\n }\n }"}}
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.