Kelo vs New London CT was a landmark case. With the closing of the Pfizer facility (at least, in part, the reason for the property taking that caused Kelo vs NL), kind of made me wonder if it was all worth it. Well, I am sure that the folks in NY and Forest CityRatner Co’s think it was. Not sure if you caught the news but see attached. Kelo vs NL all over again!

From the WSJ:

Builders Net Win in NY Case

Keep smiling!

Mark

In our attempt to provide timely and useful information, Sentry Commercial has added a “Sales/Lease Data” link to our website (www.sentrycommercial.com). You can now go to our website and search for the MOST RECENT sale and lease information available in the industry. Take a look.

Have questions? Give us a call. 

Need advice? Give us a call.

Keep smiling!

Mark

Industrial deal volume in Southern New England for September of 2009 remained low, relative to historical activity levels. Small to medium size activity remains the strongest…but “strongest” is a relative term. That said, most brokers are saying that November is starting bring more inquiries and more “foot traffic” to client properties. Hopefully that translates to stronger deal volumes in early 2010.

However, there is a substantial backlog in available properties. Over 70 industrial properties over 100,000 square feet available in CT. Over 15 available in Western MA. So while activity levels might pick up…expect bidding wars by landlords to attract those deals.

Click the link below for the September 2009 market activity report:

September 2009 – Market Sales and Leases

Happy Thanksgiving!

Keep smiling!

Mark

In Toronto the last few days for the Fall SIOR International Conference. Chance to catch up with industrial brokers from throughout the world. Lots of conversation. Much of it…”How’s business”? You can probably guess their responses! BUT, it is clear that, while business hasn’t been all that great this year, an ever growing number of brokers are seeing things pick up. So, while it has been a tough 10 months this year, it does appear that most are feeling good about mid 2010.

Locally, we’re starting to see similar signs as well. While vacancy rates are still high, foot traffic in these buildings is starting to pick up. Next step…we’ll see if the prospective companies are buyers or just shopppers!  Time will tell!

Keep smiling!

Mark