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When industrial and office brokers were asked where they expected to see an increase in deals in 2013, most SIOR members preferred not to voice an
outright opinion – and for good reason. The economic
recovery has been slow and the government has not
been helpful of late, unable to assuage national concerns over the fiscal cliff problems.
Those that did have an opinion were heavily
biased toward the logistics/industrial/distribution
market, with a bit of migration to flex space, depending on where one’s business is located.
In one market, the Boston suburbs, the lack of
available flex space is expected to affect the suburban office market, while in another metro, there were
great expectations for the downtown office market in
one of the most unlikely locations, an older eastern
city that has been losing population for decades.
PwC’s 2013 Emerging Trends In Real Estate sur-
vey made this comment about industrial: “recovering
at a snail’s pace and lagging most other sectors, top
industrial markets finally experienced good absorp-
tion and moderating vacancies; rents should continue
to trend slightly positive or better in 2013, especially
if global business accelerates. Big blocks of space
will be harder to find, leading to new projects.”
Not exactly a ringing endorsement. Yet, expecta-
tions for a better 2013 and beyond are high due to a
continuum of fundamentals depending upon location.
Amaury Gariel, SIOR
Steve Kapp, SIOR
Tony Lydon, SIOR, CSCMP