Rising Rents Push Industrial Tenants And Development To More Remote AreasFebruary 15, 2023 – Media Mention
Real estate partner, Steve Lurie, shared his insight with Benzinga regarding rental increases in industrial properties that has caused tenants looking at less than desirable locations to contain costs.
“These locations that are not quite as desirable and a little farther away from preferred sites are attracting tenants because of their rate structure, and sometimes the land is cheaper, so there can be some amenities you can’t offer when the site is closer in and less plentiful,” Lurie said.
“Access to interstate highways and utilities nearby is important in terms of evaluating a site that’s more remote,” Lurie said. “Rail is still an advantage.”