I hired Ward Richmond because I needed a fast-paced individual who specializes in solutions for 3PLs and could deliver a comprehensive solution that maximized site value and enabled me to close the deal. His market intelligence and relentless effort on this project undoubtedly helped us secure the business with this new, Fortune 500 customer.
Ward Richmond understands the 3PL business. We rely on Ward to help solve our customers’ supply chain opportunities and provide them with logistics solutions that fit their needs.
Ward has consistently demonstrated a high level of customer service, a strong work ethic, and comprehensive understanding of transportation & logistics-related real estate.
Ward and his team have consistently delivered a high level of customer service over the course of several years and hundreds of transactions by working closely with our team in an effort to assist us with developing and implementing creative real estate solutions.
Positive attitude and customer-centered approach made for a great working relationship.
Ward and his team have consistently exceeded our expectations while working closely with our Properties Team to execute our real estate strategies and achieve our stated objectives.
The Colliers team worked quickly and efficiently to leverage their local market relationships to find KW multiple short term, flexible space solutions in an expedient and professional manner.
Ward has acted as our strategic real estate partner for several years having assisted our team during our rapid growth by utilizing strong relationships and unparalleled market knowledge to source off-market opportunities for property expansion needs.
Corporate real estate solutions
By Ward Richmond
DFW explodes into mid 2019 with 30 Million SF under construction. As an FYI, this is comprised of 101 new buildings. 10 of these new buildings (about 5.7 Mil SF) are Build to Suit facilities and 91 of them (24.7 Mil SF) are being built on spec. This is an extraordinary amount of concrete.
DFW finished Q2 2019 with 6 Mil SF in Total Industrial Absorption bring YTD absorption number to a rock solid 13 Mil SF. Our 850 Mil SF market is hovering at 6% vacancy which is very healthy.
Rates are holding steady in the Big Box market (250K SF +) in the $3.80 psf NNN range while Non Big Box product continues to experience high levels of demand as rates have skyrocketed from $4.50 in Q2 2018 to $4.90 today.
DFW market activity remains strong with 3 different 1 Mil+ SF deals getting signed so far this year. Multiple other 250K SF+ monster deals keep slamming down with consistency trying to help our absorption numbers stay in line with the absolutely staggering amount of product that is being developed.
We are keeping our heads down and working hard to continue helping our customers meet the ever-growing demands of Speed and Flexibility in their supply chains in an effort to maximize corporate real estate value and efficiency.
To get further inside my supply chain brain,
please check out my website and blog:
www.SupplyChainRealEstate.com
AVG Qoated Rate:
$3.80 SF#BLDGS/VACANCIES
200,000-499,999 SF: 386/54
500,000-749,999 Sf: 99/13
750,000+ SF: 67/5
Construction has not stopped rental rates from increasing as rates bounced back from last quarter’s decline to come in at $3.80 this quarter.
Despite all of the construction activity, the vacancy rate remains strong at 10.5%. While leasing activity has been robust thus far, only 22% of the speculative development has been pre-leased, leaving close to 15 million SF of new space to come on the market.
“Go Big-Box or go home” continues to be the mantra in DFW with several new buildings kicking o during the quarter. These new builds are keeping the under construction pipeline of close to 24 million SF in record territory for the metroplex.
Absorption of almost 9 million SF through mid-year 2019 is on pace to eclipse the 2017 record of 18.8 million SF.
Ward Richmond has over twelve years of experience specializing in industrial real estate, and has negotiated over 500 transactions while working in over 100 cities across the USA, Canada, and Mexico. Several publications have featured Ward for his expertise in this field including the Wall Street Journal, Dallas Morning News, and Dallas Business Journal. He also serves on Colliers International Industrial Advisory Board, and is a member of the Logistics & Transportation Solutions Group.
Executive Vice President
Senior Associate
Senior Associate
Associate
Client Services Specialist
The Gladiator Group is supported by Colliers International Research Team
ON THE ROAD AGAIN
SEPT 4, 2019: Annual Interface DFW Industrial Conference, Dallas, TX
Sept 14-18 2019: IAMC Fall Forum, Milwaukee, WI
Sept 24-27, 2019: Colliers International Supply Chain Conference, San Diego, CA
Oct 8-9, 2019: Keller Logistics Customer Summitt, Deance, OH
Oct 15-17, 2019: Armstrong 3PL Conference, Chicago, IL
0ct 26 2019: Arete Live, St. Louis, MO
Nov 8-11, 2019:Summit LA19, Los Angeles, CA
