Industrial owners and brokers are scrambling to find space for tenants in post-Katrina New Orleans.
..."In the last two weeks, it's likely that every available square foot of New Orleans-area warehouse and distribution space that survived the hurricane has been leased -- quite a bit of space, though exact numbers are impossible to determine so early in the recovery. It's more than just sudden industrial activity in a fairly small market, totaling about 55 million pre-hurricane square feet. It's a measure of the first wave of the New Orleans reconstruction effort.
'Everyone who's going to be part of the rebuilding wants to be as close as possible to New Orleans,' he continues, adding that of the nine or 10 properties of 100,000 square feet or more that the company handles, all but one had been leased as of late last week."
Thanks to Peter Slatin
FULL STORY: Industrial Bounce
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