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NEWPORT BEACH, CA-Despite ranking at the top of Real Capital Analytics‘ list of industrial investment-sales brokerages for first-quarter 2013, as GlobeSt.com reported last week, CBRE—like other firms in the field—is finding that a dearth of product for sale has led to fewer properties changing hands in the last year. Kurt Strasmann, CBRE’s senior managing director, tells GlobeSt.com that for the last three to four months, “investment sales for industrial have been very light. There’s very little product for sale, but next year should be better.”

Strasmann says that rent growth is on the rise—some industrial owners are looking at potential rent growth of between 8% and 10% over the next couple of years—and the vacancy rate for industrial in Orange County is at a meager 3.5%, the second lowest in the nation. Rather than looking to sell, these owners are more of a mind to hold onto their properties and take advantage of potential rent growth. There’s not a lot out there, and not a lot of owners want to part with their properties right now.”

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