"Absolute fiction," responded Michael Brennan, president and CEOof First Industrial Realty Trust. "The eastern region may be one ofthe best in the country," he added, citing the region's assets,including proximity to markets and shipping routes.
"Fiction," similarly responded Jim Lee, president and COO ofOpus East. "The reality is, we're tearing more buildings down thatare obsolete than other regions have buildings. This market hasintrinsic values and the overall opportunity is still here."
With the market thus pronounced "fit," Curtis Spencer, presidentof logistics consulting firm IMS Worldwide Inc., offered up theglobal context for the industrial market, both in the east andnationally, in his keynote address.
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