TAG Industrial Watch: January 13, 2024

During 2023, the headlines repeatedly proclaimed a strong jobs market, meanwhile, all but one of the subsequent reports by the Bureau of Labor Statistics showed lower revisions to the previously announced number of jobs created (Charles Schwab). This is very reminiscent of what happened leading up to the 2008 Housing Crisis in which the BLS initially reported well-received job numbers only to revise most of them lower in later reports. Commercial real estate investors who are making investment decisions based on headlines will probably be surprised at how weak the economy may turn out in 2024, especially if price inflation makes a likely comeback. Sooner rather than later, the word stagflation will probably be just as talked about as inflation has been. While the idea of building an “inflation-proof” portfolio is not even a thought in the minds of most investors, it just may be at the forefront of everyone’s mind by the end of the year. Those who read beneath the headlines could set themselves up to be better prepared to take advantage of the many opportunities that will come with this year’s challenges.

I N D U S T R I A L   N E W S

Mixed Signals: December’s Jobs Report
Charles Schwab – January 8, 2024
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December Jobs Report: US Economy
Adds 216,000 Jobs, Shocking Wall Street
Yahoo! Finance – January 5, 2024
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Consumer Prices Rose 0.3% In December, Higher
Than Expected, Pushing The Annual Rate To 3.4%
CNBC – January 11, 2024
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Money Markets Expect Rates To Stay High For Years
GlobeSt.com – January 3, 2024
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Industrial Cooldown Continues: Warehouse
Vacancy Rises To Highest Level Since 2020
Bisnow – January 8, 2024
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R E G I O N A L   N E W S

Subleasing Activity Continues To Soar
Throughout Chicago Industrial Market
REjournals – January 2, 2024
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Olympus Controls Corp. Signs
10,747 SF Industrial Lease In Irving
REBusiness – December 14, 2023
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Crow Holdings JV Sells New Fort Worth Warehouse
Commercial Property Executive – January 5, 2024
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Tesla Keeps Expanding In Central Texas,
Now With These Plans In Austin Suburb
CoStar – January 4, 2024
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Minneapolis-Based Developer Builds
New Industrial Building In Merrillville
Nwi.com – December 28, 2023
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