Latest Industrial News
Nov 7, 2023
What downturn? US imports still rising, highest since boom
October imports up 4% year on year and up 11.5% vs. 2019, pre-COVID. American consumers just keep on spending — and the volume of containerized imports keeps on rising. October import numbers released Tuesday by Descartes came in exceptionally strong.
Nov 7, 2023
How Blackstone Is Using AI to Evaluate Deals
Blackstone’s CTO talks about how the company uses AI. This isn’t for the faint of heart. For most companies in general, and in CRE in particular, making cutting edge use of artificial intelligence is still a distance off. But Blackstone seems deep in, according to an interview that John Stecher, chief technology officer, gave to PE Hub.
Nov 6, 2023
Fed likely to cut rates below 3%, making bonds attractive now, Guggenheim says
Guggenheim Investments thinks investors should look past the carnage in bonds and gear up for the Federal Reserve to pivot to rate cuts. While the investment team expects the Fed to leave its policy rate unchanged at a 22-year high of 5.25% to 5.5% over the next several meetings, they also see a recession as likely in the first half of 2024.
Nov 4, 2023
Industrial Realty Secures 400 Acres at Atlantic City Airport for Logistics Development
Los Angeles Firm Strikes Deal for Sizable Parcel in Northwest Corner of Aviation Hub. Industrial Realty Group has secured a ground lease for roughly 400 acres at the Atlantic City International Airport where it plans to build a mixed-use logistics project in the southern part of the Garden State.
Nov 3, 2023
Brookfield Reportedly Fires C&W From U.S. Office, Logistics Listing Business
Bloomberg reports that it was because C&W declined to move its operations into 660 Fifth Ave. Cushman & Wakefield is no longer handling Brookfield Asset Management’s office and logistics listings in the U.S., according to a report by Bloomberg.
Nov 2, 2023
Increased consumer spending not enough to end trucking bloodbath
An estimated 35,000 new trucking companies shut down in the 12 months ending Sept. 30. Ohio resident Matthew James Collins hauls frozen food around the Midwest — onion rings, ice cream and the like. On a recent October morning, Collins was trucking through a snowstorm in Minnesota.
Oct 30, 2023
Carriers struggle with high operating ratios in Q3
The efficiency metric remained above a dreaded rate of 90% for multiple trucking firms. Companies struggled with operating ratios in Q3 amid sluggish demand, according to earnings reports. Companies struggled with operating ratios in Q3 amid sluggish demand, according to earnings reports.
Oct 27, 2023
Hitting the reset button: Why the industrial development pause is a good thing
Drop in construction starts indicative of healthy market responding to slowing demand, higher costs of capital. Recent data showing a dramatic decline in warehouse construction starts has some in the sector worrying about a lack of first-generation industrial space due to limited development activity.
Oct 17, 2023
Russo, River Development set to unveil 211,000 sq. ft. spec industrial building in Kearny
Russo Development and River Development are set to deliver a single-story, 211,287-square-foot distribution center at 1100 Harrison Ave. in Kearny. The firms on Monday said the project, located at 1100 Harrison Ave., will bring new life to a former manufacturing site that was contaminated but has since been cleaned up.
Oct 10, 2023
JLL: Construction set to slow in New Jersey industrial market, easing supply of new deliveries
New construction is outpacing leasing volume in New Jersey’s industrial real estate market, but a new report suggests that could change as development becomes increasingly difficult. The research by JLL found that vacancy continued to tick up in the third quarter, to 4 percent, thanks to 8.1 million square feet of newly completed space.
Oct 3, 2023
'You Sure You Want To Do This?’: Rookie Office Brokers Pursue CRE Careers Despite Downturn
There’s an existential crisis facing the office market, with phrases like “urban doom loop” and “office-to-residential conversions” becoming commonplace. That environment might seem like an unfavorable one for young adults looking to start a career.
Oct 2, 2023
Morgan Stanley says 2nd phase of LTL freight reshuffle coming
Investment firm’s survey shows 35% of shippers, 3PLs still looking for permanent home. Leading up to and following the demise of Yellow Corp., shippers and brokers were quick to redistribute freight to other carriers.
Sep 22, 2023
Estes Wins Yellow Truck Terminal Portfolio, Ending Bidding War
The bidding war for Yellow Corp.’s highly sought-after truck terminals has ended with Estes Express Lines’ stalking horse offer winning big. Estes' $1.525B bid, offered last week, bested Old Dominion Freight Line’s $1.5B offer.
Sep 20, 2023
How Warehouses Are Escaping Real Estate’s Doom Loop, in Charts
Demand and leasing rates are no longer red-hot, but the industrial real-estate sector is proving resilient. Companies from e-commerce retailers to third-party logistics providers are leasing less new warehouse space amid weak freight demand, high interest rates and shifting consumer spending.