National Industrial Flat Until Mid-2011

CHICAGO-While vacancy and absorption was solid in the first half of 2010, and leasing increased, researchers at Jones Lang LaSalle say that national industrial activity will slow to a crawl during the next 12 months. Low job growth, rent and consumer confidence will keep the industrial markets flat, the company said in its recent Industrial Outlook report.

Craig Meyer, managing director and head of the company’s logistics and industrial services group, tells GlobeSt.com that though there has been positive news, the economy will not rebound in a quick fashion. National average vacancy rates dropped for the first time in two years to 10.4%, Meyer says, but absorption remains at a negative 7.4 million square feet for the first six months.