The Reno-Gazette Journal featured a story this week regarding the performance of local industrial real estate during the first quarter, and Miller Industrial Properties featured heavily. The Market Advisor report for Q1 served as the sole source of information for the piece, which noted the momentum of the first quarter. Other highlights of the report and the story include overall industrial vacancy rates and how they compare to previous quarters and previous years:
“For the January-March period, the overall industrial vacancy rate was 7.92%, down from 8.38% in the fourth quarter of 2013 and the eighth consecutive quarterly decline…
“… the first quarter rate is 43 percent lower than the five-year average, a period which spans the recession that essentially froze any new growth in the region’s industrial market.”
“The latest vacancy rate ‘is a steady increase which is continuing toward a pro-landlord market,’ Miller wrote in the report. ‘As summer progresses, we are predicting continual vacancy declines.’ ”
Read the story via the link above, and download your copy of the Market Advisor now.