With industrial vacancy under 2.0 percent in many U.S. markets and rents continuing to rise, this asset class is the darling of both investors and lenders. Attorney Steven J. Lurie, a partner in the Los Angeles-based law firm of Greenberg Glusker who represents investors and developers in real estate deals, says, “This is a hot sector. Lenders like it, so there’s a lot of competition for deals, which means good terms for borrowers.”
“I’ve closed loans in areas throughout California, as well as Colorado, Oregon and Pennsylvania and haven’t had a problem securing financing anywhere,” he adds.
At some point, lenders may overreach, Lurie suggests, but he notes that with the continued increase in e-commerce sales, the industrial sector looks strong for the foreseeable future.
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