C&W Industrial Research MarketNote: Spec Construction is Back, but Build-to-Suit Holds its Own

Spec Construction IndustrialKEY TAKEAWAY

Traditionally, build-to-suit (BTS) construction has made up a smaller share of total industrial deliveries – in the five years prior to 2007, the percent of BTS was about 34% on average. But from 2010 to 2012, because very few developers risked speculative projects, BTS projects comprised the majority of deliveries, reaching a peak in 2011 at 85% of all new construction. Although spec construction has returned, changing dynamics of the economy and unique demands users have for specialized facilities have sustained BTS construction.

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