Industrial Market Trends - July, 2014
The ever changing industrial market has kept our eyes open for the last 18 months. Prices and rental rates continue to increase and land continues to go up in value. Inventory remains scarce. But buyers are still cautious and smart. While they notice the scarcity of the market, they are still taking time to find the right property for their use. The leasing market is very tight. Smaller 1500 to 4000 SF spaces are hard to come by and pushing the $10.00 PSF gross price point. For the first time in a couple of years, we have seen new construction as well! One new building is under construction on Taylor Road and two new buildings on Shirley St and a new building in White Lake are soon to be under construction.