Industrial Vacancy Continues Tightening, Report States
Rising industrial construction has not kept the market from tightening, according to a report from Grubb & Ellis.
Rising industrial construction has not kept the market from tightening, according to a report from Grubb & Ellis.
The company said that vacancy rates fell in all major building size categories year-to-date through the third quarter even as space under construction increased. Construction of industrial buildings has increased in all categories except super-sized buildings greater than 1 million square feet, the company said.
Vacancy is a low 5.3 percent in buildings less than 25,000 square feet, rises steadily to 10.3 percent in buildings between 500,000 and 749,999 square feet, and then declines again in the largest two size categories.
The company predicts that vacancy will fall further in 2006.
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