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U.S. Industrial Market: Record Demand


Absorption of U.S. industrial space broke all records in 2015, as demand from retailers and distributors overcame weakness in exports and manufacturing. Some key facts:

  • Occupiers absorbed 215.9 million square feet in 2015, the highest total on record back to at least 2000 and ahead of the previous record of 195.1 million square feet in 2014. Absorption in the fourth quarter of 2015 totaled 55.9 million square feet; absorption has exceeded 50.0 million square feet in four of the past five quarters.
  • Retailers, e-commerce and logistics companies drove demand, which was concentrated in major distribution markets. Amazon.com accounted for two of the five largest deals signed in the fourth quarter: a 1 million-square-foot fulfillment center currently under construction near Boston and an 882,000-square-foot fulfillment center leased in California’s booming Inland Empire market.

    Full article here.


 

 


OKC Selected as Focus of Brookings Study

18-Month Study of Emerging Innovation District

The Brookings Institution and Project for Public Spaces have begun an 18-month study of Oklahoma City's emerging innovation district, an area encompassing the Oklahoma Health Center and Automobile Alley.  It will focus on the district's economic strengths' and quality of place, as part of the Bass Initiative on Innovation and Placemaking.

The study will examine the rising interplay between innovation, quality places and economic growth by studying innovation districts in Oklahoma City and Philadelphia.  The work aims to catalyze a new approach to city-building that integrates the reinforcing benefits of vibrant public spaces, innovation urban economies and inclusive growth.

Full article here.