Report | North America Industrial Outlook - Q3 2013
Half of U.S. construction is being developed without a tenant in place, and it is diverse across size segments. Of underway inventory, more than half consists of facilities smaller than 500,000 square feet – this comes on the heels of substantial leasing activity from small and mid-sized distributors in recent quarters.
Larger tenants remain active, too, and many are committing to build-to-suits since demand for modern space generally exceeds supply. Speculative facilities are being preleased in Mexico's Central Region, while the Northern region is posed for speculative development next year.
Canada's housing market seems primed for a soft landing, and it appears prices are moving closer to historical norms.
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