Colliers Finds Steady Demand for Industrial RE

U.S. industrial real estate markets experienced steady demand in the third quarter despite a slowing economy, according to Colliers International, a Boston-based global partnership of commercial real estate firms.The markets absorbed 48.4 million square feet of industrial space in the quarter, compared with 50.3 million square feet in the second quarter and 61.3 million square feet a year earlier, Colliers said. "The third quarter held few surprises for the industrial market," said Ross Moore, the organization's senior vice president and director of market and economic research. "We anticipated an increase in completions and felt demand would stay strong, despite a slowdown in manufacturing and the overall economy. Rents did increase slightly more than anticipated, but our full-year forecast of a 10% increase is now squarely within grasp." Colliers can be found online at http://www.colliers.com.