1. Industrial Market – Q1 2012
Source: Colliers International 1

2. Industrial Market – Q1 2012
• Manufacturing industries are
expanding, causing more robust demand for
industrial properties.
• U.S. metros with a skilled workforce, ample
inter-modal transport and accessible ports will
be most attractive to growing modern
manufacturers.
• Excess inventory of outdated warehouse space
has masked the constrained supply of modern
warehouse space, by propping up vacancy
rates in some markets.
• Investor demand in non-core industrial is
growing.
Source: Colliers International 2

3. Office Market – Q1 2012
Source: Colliers International 3

4. Office Market – Q1 2012
• A national rebalancing of business growth from
FIRE (Finance, Insurance and Real Estate) to
ICEE (Intellectual Capital, Energy and
Education) has shifted office demand to cities
with FIRE industry concentrations.
• An oncoming wave of maturing debt will soon
change the volume and tenor of sales
transactions.
• National office absorption remains steady, but a
full robust recovery is still in the future.
• Office construction is still low, with only 9.4 msf
of new supply delivered in Q1 2012.
Source: Colliers International 4