Industrial Market Trends Q1

 

THE BOTTOM LINE
• Demand accelerated to over 31 million square feet. This is the strongest net absorption

reading since the fourth quarter of 2007 and a 30-percent increase over the fourth

quarter of 2010.

• Supply remained constrained with only 4 million square feet of completions, of which

just 120,000 square feet is available for lease.

• U.S. vacancy and availability rates declined 30 basis points during the quarter to 10.1

percent and 13.3 percent, respectively.

• Asking net rental rates have risen slightly during the quarter, with the increase in rental

rates experienced within the warehouse/distribution property type being offset by the

decline within the general industrial sector.

• Minimal new construction, tenant-favorable rents and rising demand will drive the vacancy

rate down closer to 9 percent than 10 percent by the end of 2011.

ASSISTED LIVING OR NURSING FACILITY SITE - AVON, OHIO

Outstanding Site for Assisted Living or Nursing Facility!
1/4 Mile from Mercy Hospital

Route 611 and I-90
37845 Colorado Ave, Avon, Ohio 440

For more information:
Mike Petrigan
Senior Vice President
216.453.3017

mike.petrigan@grubb-ellis.com

New Listing!! 765 Sugar Lane, Elyria, Ohio 44035

765 Sugar Lane, Elyria, OH

6,000 SF
.54 Acres
Clear Height 12'

For Sale or Lease

mike.petrigan@grubb-ellis.com

Mike Petrigan
216.453.3017

NEW LISTING - 46400 Telegraph Rd, Amherst, OH

 Multi-Purpose
 Free-Standing Building
 Multi-Tenant
 20,632 Sq. Ft. Total Building Size
 1.84 Acre Site
 Zoned GB – 1 General Business
 Property is conveniently located less than 1 mile from Route 58/Leavitt Rd 1.5 Miles South of I-80/ Ohio Turnpike

Contracts for nonresidential construction surge in Cleveland, Akron Markets - Cleveland Business News - Northeast Ohio and Cleveland - Crain's Cleveland Business

Contracts for nonresidential construction surge in Cleveland, Akron markets - Cleveland Business News - Northeast Ohio and Cleveland - Crain's Cleveland Business

Contracts for nonresidential construction this year through the end of February in the Cleveland Metropolitan Statistical Area climbed almost three-fold, to $638 million from $223 million in the like period of 2010. Meanwhile, contracts for nonresidential construction in the Akron MSA jumped 89%, to $26.4 million from $14 million, in the same time frame.

LORAIN — The Lorain Port Authority got their first look last night at the proposed designs for the new Jet Express Ferry Terminal.

The 4,600 square foot terminal will be built north of the Black River Landing stage. The east wing will house the Jet Express terminal and the rest of the building will be used for Port Authority offices, a conference room and a lobby.


Rendering

38777 Taylor Pkwy, North Ridgeville, Ohio - For Lease

38777 Taylor Parkway - For Lease

12,000 SF Available for Lease

Industrial Building


Lease Rate:  $4.50 PSF NNN


For More Information:


Mike Petrigan
216.453.3017


mike.petrigan@grubb-ellis.com