Volume of $126 million to date could surpass the $149 millionposted in 1998, one of the area's best years. Average per-sf salesof $37.78 are the highest in five years. That number compares with$26.08 in 2000; $31.14 in 1999; $28.79 in 1998 and $19.62 in1997.
"Large transactions are helping," Jeffrey S. Sweeney, executivevice president/managing director, Grubb & Ellis Co., tellsGlobeSt.com. The Sept. 11 terrorist events haven't affected theindustrial market here to date, Sweeney says. Overall vacancies areat 9.3%, down one percentage point from mid-year.
The biggest deal of the year to date is Caleast IndustrialInvestors' $37 million purchase ($39.78 per sf) of the 11-building,930,000-sf center of Commerce in northwest Orlando. "Thistransaction alone accounts for 30% of the entire sales volume todate," Sweeney says.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
