INDUSTRIAL HOT TOPICS
Written by: Kyle Ghiloni
Kyle Ghiloni is a member of the Columbus Industrial Team at Colliers along with Michael Linder, Shane Woloshan, Joel Yakovac, Jonathan Schuen and Molly Crosby. Kyle provides a unique level of experience having been mentored by the Columbus Industrial Team for three years prior to his college graduation. Kyle’s persistence and desire to learn adds yet another dimension to a team of seasoned real estate advisors. Keep reading to get Kyle’s take on hot topics in the industrial sector.
Do you anticipate construction/new development to slow down any time soon?
Although Columbus is seeing record construction activity, demand continues to outweigh supply including what is under construction. With barriers to enter the development scene such as land prices, construction costs, access to infrastructure, and lead times, all causing rents to rise, tenants are proving the strength of their demand and faith in the market via their willingness to pay. As Columbus continues to compete on a national level to both tenants and investors, new and existing, we do not expect demand for new construction to slow anytime soon.
Automation is a hot topic in industrial – is this prevalent in Columbus? Do you think this will grow in coming years?
Just as developers have their barriers, access to labor is a major conversation amongst users deciding where to invest their resources. Automation is growing across the industry and I think that will only continue as it becomes more proven and affordable. Automation opens up new support positions such as engineers and IT staffing and there will always be a need for skilled labor. As automation improves it will be interesting to see if the old phrase “location, location, location” continues to hold its weight.