TAG Industrial Watch: June 26, 2023

Starting in the 1980s, it became popular for old abandoned warehouses to be converted into new office space. But as office properties struggle with rising vacancy rates, the roles have been reversed. While the industrial market is also experiencing its own problems (as indicative of sublease space rising to the highest level since 2010), it remains in better shape than the once darlings of commercial real estate (CoStar). This is where the troubles in the office sector can be a blessing in disguise for the small industrial world that enjoys a significantly lower vacancy rate than its big-box counterparts. With construction costs at historic highs, transforming office space into small industrial space could be a viable option for markets with little availability.

I N D U S T R I A L   N E W S

The Office-to-Industrial Conversion Trend Is Here
Commercial Observer – June 20, 2023
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‘Zombie’ Buildings Abandoned During Commercial Real Estate ‘Apocalypse’
New York Post – June 23, 2023
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US Industrial Sublease Listings Jump To Highest Level Since 2010
CoStar – June 19, 2023
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Industrial Market Net Absorption Slides 37.6% In Q1
GlobeSt.com – June 16, 2023
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US Business Logistics Costs Soared In 2022 By
An “Astounding” 20% To A Record $2.3 Trillion
ZeroHedge – June 20, 2023
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R E G I O N A L   N E W S

Houston Named Nation’s Top Emerging Industrial Market
Bisnow – June 20, 2023
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3.7 MSF Industrial Project Moves Forward
Commercial Property Executive – June 22, 2023
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General Motors’ Indiana Plant Expansion Shows
Automaker Still Bullish On Gas Vehicles
CoStar – June 12, 2023
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Amazon-Leased Warehouse in Dallas
Trades To West Coast Investor
CoStar – June 8, 2023
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Marcus & Millichap: Facilitates The Sale Of A
26,964 Square-Foot Industrial Building In Fort Worth
MarketScreener – June 12, 2023
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