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Industrial Real Estate Market Is Booming!

Warehouses are the most popular accessory to commercial real estate these days.

Sustained growth in jobs, population and consumer confidence are driving expansion for contractors, building supply companies, food distributors and other businesses in need of industrial space across the country.
The companies doing construction on larger homes, condos, and warehouses are also users of industrial space.

While the office/retail markets are bouncing back from the recession, the industrial market is skyrocketing, in part because rents are the cheapest the the three commercial sectors. As a matter of fact, retailers are saving money by cutting back on storefront space and renting warehouses for storage.

The average asking rental rate country-wide has risen nearly $10.00 a square foot in this first quarter.
Less than two years ago, industrial landlords were wooing tenants, who had their pick of buildings and worry-free rental rates. Now tenants are rushing to locate space with landlords firmly in control.

It’s safe to say industrial property is the premier product of today’s real estate market.

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