Industrial market conditions stabilizing/improving

The Connecticut/Western Massachusetts chapter of SIOR recently announced the results of its semi-annual membership survey and the results show an improving industrial real estate climate in the region.  Highlights include:

• Increased activity and continuing improvement from 2013 to 2014.
• Continued improvement for the rest of 2014.
• Continuing decrease in vacancy rates throughout 2014.
• Continuing stability in lease rates and sale prices throughout 2014.

On the not-so good side:

• The majority of members don’t see significant pricing increases (lease or sale) for the remainder of 2014.
• The majority of members don’t see  industrial development increasing significantly for the remainder of 2014.
• The majority of membership does not see significant growth in the corporate sector for the remainder of 2014.

The good news is more stability in the CT and Western MA markets. The bad news is there is no major driver of significant growth in our local economies either.

See link to the SIOR Market Report