posted Sep 15, 2010, 3:53 AM by Joan Miquel Joaquim
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updated Jun 20, 2011, 2:10 PM by X Juez
]
In the coming days, the research team of LogisPark will post to the LinkedIn group "LP ONE World" a complete report of the behavior of the investments markets for logistics real estate in New York (NY) and Los Angeles (LA), in "Big boxs" products (over 10,000 m2) .
Let me advance some key points of this research report:
Analysis US:
- First quarter with positive absorption since 2007.
- Delay of a semester from the economic recovery start
- Increase in the new supply, breaking the downward trend since 2006
- Decrease in stocks of the market compared with the previous quarter.
- Vacancy Rate Decreased, breaking the upward trend started in 2008
- Yields have started to fall, for first time since 2008
- Nevertheless, rents continue to decline
Analysis Los Angeles
- The absorption in LA has been Positive, with worse figures at Central (obsolete stock).
- From last quarter of 2009, inventory of available m2 has been stabilized with a very slight growth since then.
- Since the fourth quarter of 2009 begins a significant decline in Vacancy Rate, which remains constant during the following quarters.
- The Availability has been steadily increasing, despite having experienced a significant decline in the first quarter of 2010 was followed by a large increase in the second quarter, but not reaching previous levels.
- The LA market activity has progressively increased, experiencing a slight fall in the last quarter of 2010.
- For the first time since a long time, the absorption of the market has been positive during the second quarter of 2010, indicating a improvement on logistic and industry market. Let's wait to see the trend of the following semesters to see if it holds and we can confirm this recovery.
- Income levels continue to fall semester to semester, despite the improvement in other indicators.
- Closely linked to income levels, selling prices have also continued to decline over the past year.
Analysis NY (New Jersey)
- For the first time in a long time, and following the trend across the country, the vacancy rate has slowed in the second quarter of 2010.
- The absorption has been positive this last semester starting a trend that we hope will continue from now on, which would indicate we are already at the beginning of the recovery of industrial and logistics market in the USA.
- If we study separately the markets of Northern NJ and Central NJ, we note that the different sub-markets follow similar trends, like in the rest of the country.
Thanks,
J. M. Joaquim |
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