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%