TAG Industrial Watch: March 9, 2024

Just in time for the first anniversary of the Regional Banking Crisis, New York Community Bank is on the verge of collapse, which would mark the fifth largest bank failure in U.S. history by value of assets. To make matters worse, the bailout that the Federal Reserve initiated last year to rescue regional banks is set to begin closing down starting March 11th. Given that small and regional banks account for 80% of all commercial real estate loans made by depository institutions (CNN Business), another round of bank failures may serve as an even bigger blow to CRE sales activity this year, especially if another financial crisis results in a credit crunch. Although headline job numbers appear promising, we are also seeing the highest level of layoffs since 2009. Before the economy experiences a potential financial crisis and recession, industrial buyers should strongly consider taking advantage of the lending environment now to secure their next investment.

I N D U S T R I A L   N E W S

Here’s Why Regional Banks Have So
Much Commercial Real Estate Exposure
CNN Business – February 29, 2024
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New York Community Bank Stock
Halted After Massive Plunge
Newsweek – March 6, 2024
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Layoffs Rise To The Highest For Any
February Since 2009, Challenger Says
CNBC – March 7, 2024
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“Notable Milestone”: American FICO Credit
Scores Decline First Time In Decade
ZeroHedge – March 6, 2024
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Manufacturing, EVs To Drive New
Industrial Supply This Year
GlobeSt.com – February 9, 2024
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R E G I O N A L   N E W S

CRG To Develop Industrial Facility Near O’Hare
Connect CRE – February 27, 2024
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Judge Temporarily Blocks DFW-Area Warehouse
Project Amid Allegations Of Environmental Racism
Bisnow – February 20, 2024
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Americold JV Eyes $127M Kansas City Facility
Commercial Property Executive – February 26, 2024
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Pepsico Beverages To Build A 150,000-Square-Foot
Regional Hub In The Village Of Lisbon
Milwaukee Journal Sentinel – February 15, 2024
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Americold Announces Plans For First Cold Storage
Facility On CPKC Rail Network In Missouri
Amiericold – February 22, 2024
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