LOS ANGELES—”Cap rates will still go down. We’ll see cap rates in the threes,” said Mark Detmer, managing director and head of industrial capital markets in the western region at JLL, at the recent RealShare Industrial West conference. Last year, the industrial market had its best year in history, with a total of $56 billion in industrial investment. According to Detmer, while there may be some slow down this year, cap rates will compress even further.

Detmer spoke on the Port Activity, Logistics and Industrial Real Estate panel, along with Mark Hirzel, district manager, A.N. Deringer; Don Snyder, director of business development at the Port of Long Beach; and Kim Snyder, president of the Southwest region at Prologis; as well as panel moderator Ian Britton, managing director at Voit Real Estate Services. The other panelists shared Detmer’s market perspective. “It is a safe asset class,” said Kim Snyder. “Logistics is becoming part of the local economy in every economy.”

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