Trends In New Orleans Commercial Real Estate

 

New Orleans’ Industrial real estate supply is up, lease prices are up but sale prices are down. In the industrial sector so far in the month of November, there are 110 properties for sale totaling 3.2 million square feet, an 18 percent increase in supply over the last 12 months. The average asking sale price is $39.48 per square foot, down about two percent from the last 12 months, and the average asking lease rate is $4.52 per square foot, up about 3 percent over the last 12 months. The surprising number is thatĀ it took 188 days to sell or lease industrial property, which was 27 percent faster than normal. The last 12 months witnessed anĀ average of 5 properties leased and 2 properties sold each month.

new orleans MSA industrial sector trends november 2012
new orleans MSA industrial sector trends november 2012