Article submitted by Jack Herrington, Sales and Leasing Agent for Saurage Rotenberg Commercial Real Estate, LLC
Written by Beth Mattson-Teig | September/October 2018
Developers don’t show any signs of easing up on new industrial projects, with steady demand coming from both space users and investors looking to acquire industrial assets.
Despite a big year of development in 2017, vacancy rates continue to point to a healthy balance between supply and demand. “Throughout this expansion period, development has been very controlled relative to past cycles, so you haven’t necessarily seen a lot of overbuilding,” says Aaron Ahlburn, managing director of industrial and logistics research for JLL in Los Angeles. In fact, JLL data shows that the average U.S. vacancy rate dipped to 4.8 percent at the end of first quarter, which is 260 basis points below the low point in the last boom cycle that occurred pre-recession.
Jack Herrington joined Saurage Rotenberg Commercial Real Estate, LLC in October, 2016. He has extensive experience in the service industry, prior to beginning his career in real estate. Jack is currently pursuing his Certified Commercial Investment Member (CCIM) designation through the Commercial Investment Real Estate Institute.
Saurage Rotenberg Commercial Real Estate, LLC is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).
