A market report just released by Grubb & Ellis Co reveals asharp decline in available industrial property on both a quarterlyand annual basis. Compared with the same period of 1999, availableindustrial space year-to-date declined 27%.
Even so, there is still a lot of space available for lease inmost areas of the county, but the majority of space for sale is inthe north and west county and airport areas.
Sales and leasing activity is up 62% this year, from 6.6 millionsf last year to 10.7 million sf for the first nine months of 2000.Space under construction also declined sharply, from 990,000 sfthrough the third quarter of last year to 405,000 sf for the sameperiod this year. However, Scott Read, SVP of Grubb & Ellis,credited this slide to an increased number of project completionsin the third quarter of 2000.
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