Electric Car Manufacturing Adds to Industrial Demand

CommercialEdge just released its monthly national industrial report, looking at the US industrial market’s performance through September 2021.
Electric vehicle plants are driving tens of billions of dollars in investments as both traditional automakers and upstart companies race to deliver electric vehicles  to the masses to compete with Tesla’s dominance of the market. This is adding demand to an already tight industrial market.
Key takeaways from our report:

  • CommercialEdge recorded $42B of industrial sales so far this year.
  • The average sale price for industrial assets YTD reached $108 per sq. ft., which marked a 23% increase compared to last year.
  • Industrial rents stayed at $6.35 per sq. ft. in September, a 3.5% increase year-over-year.
  • September closes with 217 million sq. ft. of new industrial space delivered since the start of the year.
  • Industrial vacancy rate dropped 5.7% across top markets.

For more insights and market-specific data, here’s the link to our full report: https://www.commercialedge.com/blog/national-industrial-report/

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Esprit maps return to US retail scene

Esprit has embarked on a return to North America that interprets its design legacy to appeal to Generations X and Z, most recently at a pop-up in New York City’s SoHo neighborhood. The ’80s mall stalwart, which left the US market in 2012, plans to

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