JACKSONVILLE, FL—With more than 20 years of experience incommercial real estate, MonteMerritt has seen plenty of ups and downs in theindustrial market. With all signs pointing togrowth, we caught up with the senior director of the firm'sJacksonville office to get his take on industrialleasing strategies in part one of this two-part exclusiveinterview.
GlobeSt.com: What is the state of industrial leasingand how has it changed over the past 12 months?
Merritt: During the past 12 months, bothleasing and sales activity has increased within theindustrial market with vacancy rates on a steadydecline. According to CoStar, the rate decreasedfrom 10.8% at the end of 2012 to 10.4% in the first quarter of2013, and currently stands at 9.2%.
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