Monday, March 12, 2012

States Hardest Hit by Housing Collapse Lead U.S. Jobs Recovery - Bloomberg

I provide location advice to owners and to occupants of industrial buildings in Southern California. Our firm has definitely felt the effects of an expanding job market this year and the tail end of 2011. We experienced net absorption in the industrial market. Good industrial alternatives are getting more difficult to find and owners are a bit more reluctant to execute long term leases (in excess of five years) without greater than average annual increases (greater than 3%). We are seeing a couple of new spec industrial projects as owners anticipate a shortage of industrial alternatives within the next year. We have not seen much rent growth despite the shortage, however. Below is an article which outlines the industries which are adding jobs...no surprise technology, food, and healthcare.

States Hardest Hit by Housing Collapse Lead U.S. Jobs Recovery - Bloomberg