How the Rising Costs of Construction are Affecting Tenant Perception
Post date
September 16, 2019
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By Adam Burroughs, Smart Business Networks
The construction of new industrial and warehouse space in Greater Cleveland has increased about 15 percent over the past three years. But, demand for new space is even greater than the increase in supply; developers and contractors have been very selective and are pricing both new construction and renovation projects accordingly. These conditions are also driving up rents, creating a trend that is difficult news for buyers and tenants alike."
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