March 16, 2010
Fred and I attended a National Association of Industrial and Office Parks (NAIOP) meeting this morning. Presenting were the CEO's of Duke Realty, CenterPoint Properties and First Industrial Realty Trust. In total, these firms own about 200 million SF of industrial properties.
The highlights of this meeting are as follows:
The industrial real estate investment trusts (REITs) have solved their debt and liquidity issues
New capital is getting ready to move back into real estate
Industrial leasing across the country still remains sluggish but..
Real estate owners are thinking about avoiding value destruction (which means avoiding long term low, low, low net rent deals).
As we said in our last posting, change is coming soon. Landlords will start to become more stingy with rent concessions.
You should feel some urgency in pursuing lease extension in exchange for current rent relief.Please call us for a free review of your situat...
