Industrial Market Continues to Build Momentum, by Cushman & Wakefield
Demand for flex space has noticeably decreased in the past several years, but is projected to grow considerably by 2016, says the 2013-2106 Cushman & Wakefield Industrial Real Estate Forecast. Until then, demand is expected to remain weak, with the overall flex market absorbing an average of six million square feet through 2014.
Thereafter, markets such as Silicon Valley, Orange County, Denver, Dallas, Portland and Phoenix will drive demand and account for almost half of the space absorbed through the end of the decade.
Absorption in 2016 is forecast to exceed the total accumulated in 2011 by 37 percent. In the interim, Cushman expects demand for data and call centers and high-tech laboratory space to grow significantly as the economy bounces back over the next few years.
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