More than 41 million sq. ft. of new supply was delivered in the second quarter, but vacancy nationally remains historically low at 4.3 percent and asking rents rose to $7.50 per sq. ft, according to CBRE’s second quarter industrial report.
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Portland’s inclusionary housing rules exempt buildings with fewer than 20 units. For larger buildings, developers must provide a proportional amount of apartments at rents affordable to people who earn less than either 60 percent or 80 percent of the Portland area’s median income, or pay a fee in lieu.
Warehouses are getting smarter, and distribution channels are getting more efficient. As consumers demand faster delivery of goods, the industrial sector will play a huge role in making that happen and technology will be the driver.