The Capital Markets Outlook for Industrial Real Estate

Originally published on March 10, 2023 by Marie Ruff for NAIOP.

The industrial real estate market has been on fire, but this still-hot sector is expected to cool, according to the latest Industrial Space Demand Forecast from the NAIOP Research Foundation. A powerhouse panel of financial experts addressed the capital markets outlook for industrial real estate in a session at NAIOP’s I.CON West in Long Beach, California. 

Session moderator Jim Linn, executive managing director, Newmark, led the discussion. The panel included Valerie Achtemeier, vice chairman of capital markets, CBRE; Gregg Boehm, managing director, market officer, industrial, Ares Real Estate Group; and Max Gagliardi, CFA, senior managing director, capital markets, Dalfen Industrial. 

Where are you seeing opportunities? 

“Industrial is one of the brighter spots in the capital market today – I think we can all agree on that,” Linn said. “We are experiencing some cooling in the absorption of industrial real estate,” he said, but given that the amount of absorption last year was second only to 2021, “even a cooling is going to be a good year for absorption and hopefully rental growth in the capital markets world.” 

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