Why Industrial Remains Healthy for These Four Markets
The sectors in Austin Seattle, Phoenix and Miami may be running at different temperatures, but the fundamentals suggest they’re not overheating.
May 19, 2021 | Bendix Anderson | GlobeSt.com
Strong demand is likely to fill millions of square feet of industrial space now under construction, according to “Industrial Trends in Austin, Seattle, Phoenix and Miami,” a new report by CommercialEdge, a research and marketing service created by Yardi.
“There are strong underlying fundamentals that are fueling the growth, from the transition to e-commerce to the re-shoring of certain manufacturing,” says Turner Levison, senior account executive in Yardi’s offices in Atlanta. “We feel like we are still mid-cycle. We are not on the immanent, bubble-bursting end of the industrial run.”
For example, in Austin, developers have started construction on a stunning 11.2 million square feet of new industrial space, a 13.5% increase to the existing inventory in that rapidly growing city.
