We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Subscriptions
    • Podcast
    • Webcasts
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • The Logistics of Defense
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Subscriptions
    • Podcast
    • Webcasts
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • The Logistics of Defense
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Oakland one of three fastest growing markets for prime industrial & logistics rent growth
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Oakland one of three fastest growing markets for prime industrial & logistics rent growth

July 26, 2018
No Comments

Oakland, CA - July 23, 2018 - Prime logistics rents increased globally in the year ending March 31, accelerating their growth in many markets, due to strengthening economies around the world and greater demand for distribution of goods bought both online and in stores, according to a new report from CBRE.

Prime logistics rents - which are the highest achievable lease rates for top-quality warehouse and distribution-center space - increased by 3.2 percent across the globe in this year's first quarter from a year earlier, according to CBRE. That exceeds the previous 12-month period's 2.2 percent global increase.

With a 14 percent increase in rents year-over-year, Oakland now ranks seventh globally for most expensive prime industrial & logistics markets at $9.96 per square foot per year.

"The rise of ecommerce is driving demand for new state-of-the-art industrial buildings and 'last mile' distribution space," said Bob Ferraro, Senior Vice President, CBRE. "In the East Bay, newer warehouses (built since 2008) account for only 1.8% of the market's total number of buildings. As demand continues, Oakland will likely see more infill development as older obsolete warehouses are torn down, and new developments go up."

The biggest gainer globally was Vancouver, which posted a 29.1 percent increase due to its lack of land available for industrial development amid its growth as Canada's largest port. Other U.S. cities ranked in the top 10 fastest growing markets include Seattle (13.4 percent gain) and New Jersey (up 9.5 percent). Oakland was the only U.S. city to rank in the 10 most expensive markets.

Prime logistics rents offer a means of gauging the strength and momentum of the high end of warehouse markets across the globe. That the growth of prime logistics rents has accelerated globally bodes well for the industry's continued momentum.

"This is a positive indicator that we're still seeing global growth roughly six years after the U.S. market for Industrial & Logistics real estate began its recovery from the recession," said David Egan, CBRE's Global Head of Industrial & Logistics Research. "This underscores the theory that e-commerce-driven demand for logistics facilities has created a fundamental shift in this market, establishing new baselines for occupancy, rents and other measures."

CBRE examined rents in 71 global logistics hubs for its report. The company defines prime logistics rents as the highest achievable rent for industrial distribution space of the highest quality and specification in the best location within each market.

In the U.S., prime logistics rents increased by an average of 4.8 percent in the year ended March 31, propelled by gains in coastal markets.

"The three U.S. markets with the biggest increases in prime logistics rents - Oakland, Seattle and New Jersey - each are near busy seaports but have little land available for industrial development," said Adam Mullen, CBRE Americas Leader of Industrial & Logistics.

To read the full report, click here: https://researchgateway.cbre.com/Layouts/PublicReportAccess/Default.aspx?PUBID=ec1143c7-c91d-4ba9-a772-aed82f22df2b. The report may take a few seconds to load.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

More Info: https://researchgateway.cbre.com/Layouts/PublicReportAccess/Default.aspx?PUBID=ec1143c7-c91d-4ba9-a772-aed82f22df2b

Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
  • Related Articles

    Seattle one of four fastest growing markets for prime industrial & logistics rent growth

    SEKO Logistics invests in Ireland, one of Europe's fastest-growing economies

    A Sign for Freight? Industry BPO, DDC FPO, Named One of the Fastest Growing Companies in U.S.

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Roadrunner Freight bolsters LTL capabilities with $50 million in new backing

  • Southeastern Freight Lines Promotes Marty Cox to Service Center Manager in Cincinnati, Ohio

  • Pull back or go deeper—how the pandemic influenced shipper-3PL engagement

  • Boston Dynamics trials box-lifting robot for unloading trucks

  • The growing crisis in agriculture exports: interview with Peter Friedmann

Now Playing on DCV-TV

0a4ad66a 2005 4164 a0fa a1cd5a5133c9

Automated Package Handling with Mobile Robots

DCV-TV 4: Viewer Contributed
Discover sensor solutions that allow you to use AGCs or AGVs with your conveyors to enhance your logistics operations.

FEATURED WHITE PAPERS

  • Special Report: Supply Chain Trends in Retail & Consumer Goods

  • Fortify Your Operational Resilience

  • Cold Storage Automation: Leveraging Advanced Technologies to Meet Increasing Demand

  • The modern warehouse: Maximizing productivity and capacity

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing