With trade picking up again, warehouse owners say they see light at the end of the tunnel. But it could be a very long tunnel.
Leading industrial-real-estate landlords delivered more sobering news about rents and occupancy in earnings reports this week. ProLogis, the biggest warehouse landlord in the world, said lease agreements signed in the third quarter reflected a 14.7% rent decrease from what the same space went for previously.
A competitor, AMB Property Corp., on Wednesday said the net operating income on warehouses it has owned for more than one year is down 7% since October 2008
Wall Street Journal