I’m out in San Diego at the NAIOP (National Association of Industrial and Office Properties) Annual Meeting. This is a wonderful trade organization of 15,000 professionals, mostly from large metro areas. Thank goodness that Ed Hulbert from Colusa, CA (population 5,000) is here or Agracel’s President Dean Bingham and I would be from the smallest community (population 12,000).
A Colliers International Study shows that warehouse space in San Diego costs $7.60/sf compared to $4.60/sf in Chicago and $4.30/sf in Indianapolis. Colliers doesn’t have Effingham, Colusa or any other agurbs® listed, but if they had the rent would have been from $2.50 to $3.50/sf. That’s quite an annual savings when you’re renting 50,000, 100,000 200,000 or more square feet.
Colliers defines warehouse space as over 50,000 sf with less than 15% office and ceiling heights of 18 to 30 feet with docks for loading.
San Diego had gone 182 days without rain, until Dean and I got here. It hasn’t stopped raining.
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