|
|
|
|
|
Volume 3 - Number 6 | March 15, 2006
|
TOP STORY: Phoenix Rising From The Dust
By John McCloud
A record-breaking drought that has even cacti dying for water appears to have done little to dry up investor and developer interest in Phoenix industrial properties. Brokers say the industrial market is booming, with leasing and construction moving at a breakneck pace.
|
|
Shurgard Succumbs to Hostile Bid
By John McCloud
Shurgard Storage Centers Inc. of Seattle has acquiesced to an aggressive pursuit by Public Storage Inc., a Glendale, CA-based REIT. Earlier this month, Shurgard agreed to a $5 billion acquisition offer.
|
|
ProLogis Entering Chicago's Urban Market
By John McCloud
ProLogis is entering the inner city market in Chicago with a suburban-style project. The Denver-based developer, which already has properties beyond the city limits, plans to build an 800,000-sf industrial park in the heart of the Southside in partnership with Chicago-based Urban Investment Research Corp.
|
|
Data Points: Sharp Decline in Industrial Absorption
Absorption of industrial space fell sharply in the fourth quarter of 2005, while completions inched up to their highest level in four years, Grubb & Ellis Co. reports. This kept the overall average vacancy rate at 8.2%, but ended a six-quarter string of falling vacancies.
|
|
|
|
|
|
|
|
|
