The Wilmington industrial market according to the report enclosed in this posting is very tight right now. The on market inventory is low, rental rates have grown year over year to a now market high of $8.00 per sf + NNN. The smaller flex market is very tight with limited availability while the larger spaces are turning more as investment sales in the 7-9 CAP range, providing stable returns based on the tenants credit and lease term.
The need for industrial growth is very strong in our market with multiple new development projects underway to help alleviate some of the backed up demand.
Call us for more information or to discuss the report.
The Wilmington Marketplace has shown significant change over the past two years with the rental rate growth, price per sf growth for sales and supply decrease. The Market state wide has equally shown such growth and as distribution hubs become the new norm for CRE Sectors, that growth will keep coming.
Growth of Industrial Sector Article 1
Growth of Industrial Sector Article 2