What’s New – Spring 2012
The Macro View
Similar to 2011, this year starts with a favorable outlook. GDP is up, unemployment rates are down and the first quarter of 2012 saw improvement in leasing activity. Development has also returned in some selected areas. Industrial developers are preparing sites and building pads with the goal of constructing the building once they secure a tenant. Some have moved from the modified build-to-suit to actually going spec. The focus is on large buildings where developers can get the per foot cost of construction down. Ecommerce and consumer logistics are a big driver for new buildings.