2017 saw a return of oil & gas related activity; however, users are significantly more cautious than during the last cycle. The trend is expected to continue in 2018.
While vacancy rates remained low and smaller deal activity remained the norm, there was a notable lack of large new leases in 2017.
The market saw an increased number of e-commerce related requirements, however most were small "last-mile" third-party logistics (3PL) requirements rather than sizeable fulfillment or sortation center requirements.
Industrial land pricing continued to escalate in 2017, a trend that is not expected to change in 2018.