Warehouse Rents Likely to Rise in '06
2006 Rent Increase: 14% in Phoenix
To store equipment and construction materials, contractors are snapping up warehouse space. Rents will rise by 14 percent in Phoenix, Las Vegas, and Orlando, estimates Grubb & Ellis, a national real estate services firm.
2006 Rent Increase: 11% in Los Angeles
Warehouses for Chinese imports are in demand in Los Angeles, where rents are expected to jump 11 percent. Costs in Oakland, San Diego, and Jacksonville, Florida, will rise between 7 and 11 percent.
2006 Rent Increase: 11% in Omaha
Air, rail, and trucking hubs are also hot. Warehouse rents in Fresno, a way station for Asian imports, jumped 15 percent last year. And look for increases of 11 percent in Omaha and 7.5 percent in Cincinnati this year.
Darren Dahl is a contributing editor at Inc. magazine, which he has written for since 2004. He also works as a collaborative writer and editor and has partnered with several high-profile authors. Dahl lives in Asheville, North Carolina.