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Article: Industrial space glimmers in area's real estate rubble: property in limited supply holds its value.
- Article from:
- San Diego Business Journal
- Article date:
- January 28, 2008
- Author:
CopyrightCOPYRIGHT 2008 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Caution is the watchword in the industrial space market, where investment sales have slowed. Debt--not demand--is the puzzle that has sidelined buyers.
Fallout from the subprime housing disruption has left interest rates in flux, capitalization rates on the rise and credit markets in turmoil. Meanwhile, the long--term prospects for San Diego's industrial space--from plain vanilla warehouses to custom research and development facilities --remain robust.
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"It's a herd mentality--as opposed to a true underlying loss of value" that is sapping current investment activity, said Linda Greenberg, senior vice president of brokerage ...