CoStar recently highlighted that large logistics centers are in high demand and short supply for certain markets, including the Detroit Metropolitan Area.
Ashley Capital’s 2.1 million-square-foot Tri-County Commerce Center is recognized as one of the fully leased warehouse parks satisfying the growing need in the Detroit Metropolitan area.
CoStar states that U.S. industrial property grew by 1.3 billion square feet in 2022 and 2023, marking “the most rapid growth recorded for any U.S. commercial property type in a 24-month period in more than 30 years.” However, with limited financing available and the resulting slowdown in construction, there is a lack of available mega-warehouse spaces (defined as 500,000 square feet or larger) for distribution hubs such as Detroit, Jacksonville, and Reno.
The article, which you can read here, expands further on the current market dynamics.