TAG Industrial Watch: November 19, 2022
Despite the recent pullback in gas prices, all energy costs are up nearly 18% annually based on the October Consumer Price Index (BLS). The continuous rise in energy costs has hit the industrial sector particularly hard, given that the industry accounts for about 31% of energy consumption in the U.S. This has prompted some of the largest industrial landlords, including Prologis and Trammell Crow Company, to go all-in on going green (Bisnow). While green technology, such as rooftop solar panels, often comes with a hefty price tag upfront, the investment can lead to significant cost savings down the road and increase property values. Although green technology has initially been adopted by the big guys, there’s no reason that owners of smaller industrial properties can’t get in on the action too.
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