SIOR's Connecticut and Western MA Chapter recently released its latest market survey, reflecting market activity for Q3 & Q4 2017 as well as its members outlook for 2018.
No major surprises in its 2018 Outlook. In 2017 the industrial sector continued to outperform the office sector and the outlook is for more of the same in 2018. That said, almost half its members believed the markets would remain about the same as 2017. Most members also believe vacancy rates in the industrial sector will continue to decline, as lease rates increase.
Of note, although one would believe new, speculative development would increase with the tightening industrial market, most members do not believe that to be the case. This is likely due to the disconnect between the cost of construction versus market rents.
See full report attached: CT/WMASS 2017 Year-End SIOR Market Survey