Colliers: Industrial RE Growth Robust

The industrial real estate market grew vigorously in the first quarter, absorbing 10 times the square footage of industrial property that was absorbed in the first quarter of 2004, according to Colliers International, a Boston-based commercial real estate manager.Absorption totaled 41.5 million square feet, compared with 4.1 million square feet a year earlier, Colliers said. "The drivers of the U.S. industrial market have been experiencing vigorous growth, and look likely to maintain this health tempo throughout the year," said Ross Moore, vice president and director of research at Colliers. "Many sectors -- including transportation and distribution, manufacturing, retail, and housing -- continue to post positive results." New construction totaled 26.5 million square feet in the first quarter, compared with 33.8 million square feet in the fourth quarter and 35.8 million square feet in the first quarter of 2004, Colliers reported. The company can be found online at http://www.colliers.com.