Cushman & Wakefield released its Marketbeat Snapshot reports for Q2 of 2014, which shows the economy not only growing at an annual rate of 4% but industrial production, which correlates highly with industrial demand, advanced at an annual rate of 5.5% in the second quarter of 2014. An excerpt from the report follows:
With vacancy rates and speculative construction back to per-recession levels, the U.S. industrial sector continues to lead the country's commercial real estate recovery. Strong occupancy gains and dwindling supply of big-box drove the overall vacancy down to 7.6%, 80 basis points lower than a year ago and the lowest level since first quarter 2008. This also represents a significant drop from the recent high of 11.2% posted during first quarter 2010. Net demand remained strong during the second quarter and is on track to surpass last year's total, with 95.7 million square feet of occupancy gains at mid-year. Atlanta is leading the nation, with 8.9 million square feet of space absorbed to date followed by Inland Empire with 7.5 million square feet. Healthy demand led to increased occupancies in almost every major market with only 12 of the 78 markets tracked posting net loss in occupancy at mid-year.
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