Remember Schoolhouse Rock? And do you remember Rocky of Schoolhouse Rock? He had a song all about how knowledge is power.
It’s true though. From reading trade journals, local business papers, and market reports, it’s all relevant to providing a framework for negotiations, timing deals, and other commercial real estate decisions.
This morning, I went through CoStar’s Quarter 1 2017 Industrial Market report. Here are a few highlights:
- Vacancy is at 5% which is the lowest combined vacancy figure since 2006
- The largest lease signings occurring in 2017 included 144,289 square feet by Niagara and 131,000 square feet by GEODIS Logistics
- The average quoted asking rents rate was $6.39 per square foot which represents a 0.8% increase
- Orlando market rental rates are above the national average
- Southwest Orange County submarket vacancy rate is at 3.5% and Northwest Orange County submarket vacancy rate is at 3.3% while Seminole County submarket is at 7.6%