Industrial

Strong user demand has driven construction activity, but it might also start to drive land and construction costs up.

Many investors work extra hard to find properties that provide higher yields, and Chicago-area properties tend to land at the top of their wish lists.

Leasing activity surged in the second quarter—rebounding from a slow first quarter—but the vacancy rate still increased, nearing 5%.

The director of research, New York at JLL, says L&L and Normandy's acquisition reflects the insatiable demand for this type of product in Midtown South.

With limited developable land and a critical need for more industrial space, industrial developers are getting used to building on difficult sites.

Especially valuable are buildings near dense populations, diverse labor pools and major thoroughfares.

The fully racked freezer space at 180 Raritan offers temperatures as low as -20 degrees, which CBRE senior vice president Lou Belfer says is a unique feature in the market.

The barriers to entry for industrial service facilities are quite high, and the vacancy rate in major markets is less than 3.0%