Aug
31

Grubb & Ellis Co. Releases Logistics Market Trends Report

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Grubb & Ellis Co., a leading real estate services and investment firm, released its Logistics Market Trends report for the second quarter of 2009, which revealed that decline in retail sales, manufacturing activity, and international trade, combined with the delivery of new speculative space to the market, caused vacancy rates for the logistics sector to increase for the ninth consecutive quarter.

The report also states that new development has dried up to just 9.2 million square feet of space, a sharp decline from the 60.4 million square feet of space in mid-2008, despite the increase of the vacancy rate to 13.3 percent since the first half of 2008.

LINK TO THE REPORT (PDF) HERE:
http://www.grubb-ellis.com/Data/Reports/natmrkttrnd/markettrendlogistic_2009Q2.pdf

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