TAG Industrial Watch: August 12, 2023

Imports are falling, manufacturing output has stalled out, one of the largest trucking companies is going out of business, and money continues to bleed from the nation’s largest commercial real estate fund. Industrial real estate plays an intricate part in all of these things and is consequently being impacted. With the Federal Reserve’s benchmark rate now at the highest level since 2001, the sands are suddenly shifting from a seller’s market toward a buyer’s market. Unfortunately, many sellers have been slow to adjust to the changing economic environment and property values remain near record highs. The disconnect between buyers and sellers has resulted in the lowest number of transactions in a decade. Until asking prices start to reflect an economy that’s in decline, sales activity in the industrial market will likely remain subdued. However, sellers who are quick to adapt will not only increase their chance of securing a buyer, but still take advantage of historically high equity levels.

I N D U S T R I A L   N E W S

A Stubborn Bid-Ask Gap Is Keeping
CRE Transactions Down

GlobeSt.com – July 21, 2023
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Yellow’s Bankruptcy Filing Sets Stage
For Truck Terminal Portfolio Sale

CoStar – August 7, 2023
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Sale-Leaseback Investors See
‘Buyer’s Market’ As Interest Rates Rise

Wall Street Journal – July 24, 2023
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Manufacturing Stalled In The First Half. But Now
The Stage Is Set For A Recovery, Says JPMorgan

MarketWatch – August 1, 2023
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Blackstone’s BREIT Sells Storage Business
For $2.2B As Withdrawals Abate

Chief Investment Officer – July 28, 2023
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R E G I O N A L   N E W S

KC Developer Hunt Midwest Completes
First Building At Logistics Park

Connect CRE – July 28, 2023
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A Temporary Ban On New Industrial Projects
Could Be Headed For Southeast Fort Worth

Bisnow – August 2, 2023
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Quebec-Based Lion Electric Launches
Massive Plant In Joliet, Illinois

CoStar – July 26, 2023
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Marcus & Millichap Facilitates The Sale Of
A 21,000 SF Industrial Building In Midland

Citybiz – August 1, 2023
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Mass Layoffs In Dallas Fort Worth As Three
Major Companies Implement Job Cuts

NewsBreak.com – August 3, 2023
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