Industrial Sectors Thrive, Office Space Flounders in These Four Major US Cities
Apr. 13, 2023 (AUSTIN,TX) – MyEListing.com, a free-to-use commercial real estate listing and data platform, recently released a report outlining the four US cities with the largest performance disparities between their thriving industrial sectors and their underperforming office markets.
The four US cities with the largest variations between their office and industrial markets are:
- New York;
- Los Angeles;
- Chicago; and
All four cities benefitted from significant industrial sector rent growth in 2022. At the same time, each has at least $11.8 billion in outstanding office loans that are especially at risk for default.
This sharp contrast between the two sectors arose from the impact of the COVID-19 pandemic, and it presents both challenges and opportunities for investors and property owners.
“Investors should carefully consider the risks and benefits associated with each sector when making investment decisions in light of these divergent tendencies,” reads the report. “This could entail altering investment tactics to concentrate on the expanding industrial market or investigating creative ways to convert underperforming office buildings in order to satisfy the shifting demands of today’s enterprises.”
You can read the entire report, along with an in-depth analysis for each city, here: https://myelisting.com/commercial-real-estate-news/1454/a-tale-of-two-sectors-exploring-the-industrial-boom-and-office-gloom-in-major-us-cities/
MyEListing.com is a national commercial real estate marketplace and data platform connecting real estate professionals and others from all corners of the industry. Users can sign up for free and access accurate local market intelligence, comp software, and more. The platform also supports other players in the industry, including NAI Global, Colliers, and Cushman & Wakefield.
Company Name: MyEListing.com
Contact Person: Maddie Peterson
Country: United States