28 Jan Bluerock’s Dr. Randy Anderson Isn’t Surprised by Industrial’s Growth
WASHINGTON, DC—Already exhibiting signs of recovery, the US industrial market could see as much as 150 million square feet of absorption this year. What’s more, next year’s take-up could hit 175 million square feet, according to the NAIOP Industrial Space Demand Forecast.
Those figures represent increases of 50% and 75%, respectively, over the 100 million square feet of absorption the industrial sector experienced in 2012.
The results aren’t really surprising, Dr. Randy Anderson, president of New York City-based Bluerock Real Estate LLC, tells GlobeSt. “Industrial has heated up,” he says. “We’ve been looking at the growth rate and trajectory of the ISM PMI, which is usually a year-out leading indicator of industrial demand, and it’s been gradually increasing. We’ve been watching the Federal Reserve’s index of manufacturing output, which is a six-month leading indicator, and it’s been strong over the past four to five quarters.”
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