By: Johannson (Jojo) Yap, chief investment officer, First Industrial Realty Trust
The industrial market continues its recovery nationwide, driven by tenant demand for more space to accommodate growth and the need for more efficient locations and buildings to reduce costs. According to the most recent NAIOP Industrial Space Demand Forecast, “the U.S. industrial market is poised for significant growth, with annual net absorption forecast to reach 150 million and 175 million square feet in 2013 and 2014 respectively.”