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Users who historically would have turned up their noses at the IE are now being forced to consider all geographic options because of an ever-tightening market with climbing rents in all Southern California industrial submarkets, Voit's Adam Geiger tells GlobeSt.com.
Absorption rate gains were concentrated in distribution properties located in core markets such as Dallas/Fort Worth, which also had some of the highest number of rooms under construction at 7,047.
The US Energy Information Administration forecasts that West Texas Intermediate crude will be priced at an average of $51 per barrel in 2018, continuing a stabilization of energy pricing that prevailed in 2017.
Overall, commercial property pricing slipped in November for the seventh consecutive month, a trend that Ten-X's Peter Muoio says is a reflection of ongoing investor wariness.
It isn't only growers that are creating new real estate demand, but the ancillary businesses like fan manufacturing and soil specialists that will also grow as a result of legalization.
Industrial markets such as Milwaukee, Nashville, and Cincinnati, among others, have solid population growth, good transportation links, as well as cheaper labor and lower construction costs than big markets like Chicago.