How do you know the Holidays are almost upon us? By gauging the number of “outlook” reports released by the major commercial real estate service providers. The traditional holiday favorite, the Emerging Trends report from the Urban Land Institute and PricewaterhouseCoopers, was released last month, and now a wave of new reports and studies are making their way into the mainstream.
Last week, CBRE released its MarketView outlook for the U.S. industrial market, and here are a few highlights:
• The U.S. industrial market has witnessed steady improvements in occupancy levels since 2011, a trend that continued in Q3 2012.
• Industrial leasing activity is expanding as tenants focus on large, new Class A assets that help improve supply chain and e-commerce platforms.
• Tepid economic growth, slowing global trade, cautious consumers and political uncertainty are weighing on the pace of recovery in industrial markets nationally.
• Users are seeking longer-term leases to lock in current attractive rates. In some cases, users are also considering ownership given low interest rates and the high cost of improvements.
Tomorrow Jones Lang LaSalle holds a media briefing to discuss its own 2013 Outlook and potential impact of the presidential election on CRE. Experts from the firm’s research team will share views on how the global macro economy will impact commercial real estate, forecast supply and demand factors in each major sector of the industry, identify specific cyclical and structural trends manifesting within real estate, and share prospects for rental and value growth for the coming year.
For a nice analysis of the potential implications of going over the dreaded “fiscal cliff,” see CBRE’s Chris Macke’s work here.
Another favored prognosticator is Bob Bach, national director of market analytics for Newmark Grubb Knight Frank. His “Good News Friday” is a must read and you can check it out here.