
Tightening of market will cause rents to rise in the coming year
If your company is in the market, for class A industrial space, you better make a move quickly because there simply is not much available as yet another commercial real estate segment is making a comeback. “The class A industrial market currently has the smallest amount of space since we began tracking this data. Companies looking to expand or move into the Richmond area have limited options to consider. Seeing a new building under construction is a great indicator of the health of this segment of the market, “ said Evan Magrill, Executive Vice President at Cushman & Wakefield | Thalhimer. With only 43 buildings and 10.5 million square feet comprising the class A category, rents are already beginning to rise. With no new inventory added to the market since 2008 and just one new building in the works, there is a major sign of optimism that the class A industrial market is strengthening
Written on December 8, 2014