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January 09, 2009

REal Talk with Adam Perrotta-Friday

Given how badly the retail and manufacturing sectors are performing, it would seem to follow that the demand for warehouse and logistics space would take a similar nosedive. And in general, that may be true, but leasing deals are still getting done. Prologis's leasing of 400,000 square feet in four separate deals near Charlotte, as well as 120,000 square feet in Reno, Nev., joins KOR Cos. finding a tenant for 66,000 square feet in New Jersey as major lease agreements announced at the end of this week. While its uncertain how many concessions the owners are having to make to get these properties leased out, the fact remains than tenants are still out there. In today's bleak economic landscape, even that must be taken as good news.

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