Globally industrial property has been a hot topic of discussion – it’s the star performer with vacancy rates at all-time lows and rents growing consistently above that of other mature asset classes. Goodman Group one of the world’s largest industrial landlords reported this week that every single large shed in their portfolio - spanning millions of square metres of warehouse space in the US, Europe and Asia - is full. The CEO noted in his 30 years in the business they have never conditions like this.
Whilst this is at a macro level these trends usually flow through to the micro level and MMJ are seeing this across the greater Illawarra. The regions industrial rents have soared to all-time highs; MMJ have seen industrial rents over the past two years climb approx. 20-30% with Incentives very minimal if any depending on style of asset. Vacancy rates across the region are at all time lows with currently only two warehouses above 1000sqm vacant and ready for immediate lease.
MMJ Commercial Leasing currently have a quality database of active tenants looking for space from 800 to 7,000sqm and we welcome discussion with any landlords looking at exploring leasing options.