I just returned home from Phoenix, and the headlines out there last week crowed that the fourth quarter was one of the best in years for industrial real estate. There was also a prediction that more expansion was on the way. Boy, it's been a long time since we've read anything like that about industrial real estate! Especially in Arizona, where there has been a long period of retrenchment after overbuilding for a couple of decades.
And that's not the only good news. Other markets, including many metropolitan areas, are seeing the return of new tenants in retail and other markets. While prices still seem relatively soft, there are also reports that deals are tightening and incentives lessening.
While Connecticut may be behind the curve in the foreclosure and short sale cycle, since states like Nevada and Georgia, for example, don't require court involvement, we are sure to see the uptick in our own market as the business climate improves. And isn't that a nice way to start a new year?
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