Light manufacturing, office and storage-needy tenants arerenting bigger chunks of space these days. Reason: They'rediscovering they can lease flex space in the suburbs ornear-Downtown locations for far less than central business districtrents.
Average rents are in the $10 to $14 sf range, compared withaverage $20 to $24 sf class A office rents in the CBD.
Vacancies in this 5.5 million-sf, niche industrial marketcategory are at 10%, down from 11.6% in the first quarter. Thirteensecond-quarter leases averaged 13,000 sf, up from the average 5,000sf in past years, according to a new Rebman Properties Inc. report..
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