Top Real Estate News for Wednesday, Nov. 17, 2021: New Highs in Industrial Real Estate
Record net absorption and rents in industrial real estate, while apartments in the Sun Belt helped overall apartment sales lead CRE volume. Housing starts dip, but high prices push up expected new limits for backed loans to near $1 million.
The bull market in industrial real estate rolls on. A report out today from Transwestern says the sector set new records across multiple key performance indicators (KPI). That includes 540 million square feet of net absorption year over year, the first time that KPI has grown by more than 500 million square feet in a year. (Net absorption is the difference between square feet that became physically occupied and the square feet that became physically vacant during a specific period.)
Asking rents also increased to $7.11 per square foot, Transwestern said in its 3Q21 report, the first time that KPI had crossed the $7 mark in the Houston-based real estate management capital markets, management, and advisory firm's records. These numbers speak to why investors on the retail and institutional side are pouring money into this sector.
Source Fool.com
