2017 saw a variety of industrial demand levels – investment sales reached new heights, while leasing slowed for the first time in three years.
The Prince George’s County industrial market experienced an increase in vacancy, going up to 7.6% as opposed to last year’s 6.5%. However, there were two large Class A leases signed in 2017.
Despite the slowdown in leasing activity, industrial demand from investors has been strong. Pricing has reached an all-time high, and scarcity of industrial-zoned land will keep the market tight.
In 2018, we expect to see increased industrial demand in leasing. Additionally, evidence shows sales values for industrial should reach over $150 per square foot.