News
THE NEXT BEST MELT
January 27, 2011
| Snow got you down? Cassidy Turley industrialguru Jarred Testa predicts a thaw. Of course, he's talking credit lines. |
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| Jarred tells us banks have "loosened up" with lending, allowing some local tenants to see the light at the end of the tunnel. As a result, the BW Corridor's "sweet spot" of leases in the 40k SF range will see an increase in activity this year. Due to a flurry of Class-A activity at the end of '10, large blocks of space in 28'-32' clear buildings are scarce, positioning landlords to push rents above last year's average effective rate of $6.00/SF. While he's observed government contractor lease terms shrinking, Jarred thinks activity in that sector is still gaining momentum. Makes us feel nice and toasty, no hot chocolate necessary (unless there's marshmallows). |
