Construction of industrial space continues robust growth

Construction and development of new industrial space in the U.S. remains robust, with all signs pointing to another big year in this market segment.

According to a report by CommmercialEdge, 592.5 million square feet of industrial space was under construction nationwide by the end of February, amounting to 3.5% of existing stock. Over the past six months, the amount of industrial space grew by more than 90 million sf.

About 626 million sf of new development was in the planning stages, CommmercialEdge reported. Rising rents have supported this action. The national average for in-place industrial rents across the top 30 U.S. markets reached $6.45 per sf in February, marking a 4.4% year-over-year increase.

The rest of 2022 continues to look strong in the industrial space. Nationally, transactions totaled nearly $9.1 billion in the first two months of the year. “This strong start is a clear indication that investor interest in industrial properties is anything but abating, given that the first quarter of a year is typically the slowest for commercial real estate transactions,” CommmercialEdge says.

To tell the truth, I didn’t want to write about the terrible events of December 14, 2012, when 20 children and six adults were gunned down at Sandy Hook Elementary School in Newtown, Conn. I figured other media would provide ample coverage, and anything we did would look cheap or inappropriate. But two things turned me around.

| Jan 8, 2014

Strengthened sprinkler rules could aid push for mid-rise wood structures in Canada

Strengthened sprinkler regulations proposed for the 2015 National Building Code of Canada (NBCC) could help a movement to allow midrise wood structures.

| Jan 8, 2014

New materials should help boost sustainability in cities by 2020

Newer developments include windows made with nano-crystals that control intense heat penetration while lighting living areas from the outside.

| Jan 8, 2014

Architect sentenced to a year in jail for firefighter's death

Architect Gerhard Becker was sentenced to a year in LA county jail after pleading no contest to the manslaughter of a firefighter who died while trying to contain a fire in a home the architect had designed for himself.