2017 on track to deliver most industrial construction in 20 years

Nearly 2.17 million square feet of industrial space has been delivered YTD 2017 with another 2.26 million square feet expected to be deliver in Q4 of 2017 alone. That is the most construction to deliver in a single year since 1997. Asking shell rates are reaching $0.54 for new construction.  With nearly 4 million square feet of industrial property set to deliver in 2018, new development is expected to remain strong in the near future.  Build to suit is contributing a significant amount to the new deliveries through 2018, the new USPS facility is expected to deliver by the end of 2017 adding nearly 800,000 sf. ft. to deliveries alone. Another notable build to suit currently under construction is an 857,000-square foot industrial building underway in Troutdale for a large e-commerce retailer which is expected to deliver in Q3 2018.

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