Colliers Sees 'Dramatic' Rise in Industrial RE

U.S. industrial real estate markets improved "dramatically" in the third quarter, according to Colliers International, a Boston-based global partnership of commercial real estate firms. The markets absorbed 51.4 million square feet of industrial space in the quarter, compared with 42.2 million square feet in the second quarter, Colliers said. "We have the potential in 2004 to nearly triple the absorption registered in 2003, which ended with full-year absorption of 56.8 million square feet," said Ross Moore, the organization's vice president and director of research. "The economy, although showing some signs of slowing marginally, still has considerable momentum which is expected to translate into strong demand for warehouse space for the remainder of 2004 and into 2005." Colliers can be found online at http://www.colliers.com.