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How have rents in the Southend industrial market changed in the last 5 years?

Over the past five years, asking rents for warehouse spaces larger than 100,000 square feet in the Southend have increased nearly 26 percent, from $0.35 in 2012 to $0.44 in 2016, with average office surcharges of $0.84 on a NNN basis, an increase of 3.7 percent year-over-year. Months of free rent being offered to tenants as a concession have been cut nearly in half, dropping from 5.5 months in 2012 to 2.8 months in 2016.

 With limited available product and continued strong demand in the Southend, vacancy will likely remain low and tenants will continue to experience tight market conditions and a competitive environment in 2017. 

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