Cassidy Turley Report: Industrial Sector Still Weak

The demand for warehouse and flex space continued to retrench in the first quarter of 2010, but the manufacturing sector is expanding again, according to commercial real estate services provider Cassidy Turley’s latest report. The economic downturn has hit the industrial sector harder than any recession in recent history, rendering record levels of empty warehouse and flex space, according to the firm’s experts.

The report concluded that because industrial employment is not recovering as quickly or as aggressively as office-using employment, it is not surprising to see the industrial sector lag other areas of the economy headed toward a swifter recovery.

The report also showed that the U.S. industrial sector is on the verge of creating jobs again. In the first quarter of 2010, the manufacturing sector created 11,000 new jobs compared to the previous quarter. Cassidy Turley noted that investor confidence is on the rise.