CBRE: availability rate for warehouses and distribution centers in the U.S. declined slightly in second quarter

Decline in Available Space Comes Amid Strong Demand, Temporary Slowdown of Construction Deliveries

Los Angeles, 2017-Jul-15 — /EPR Retail News/ — The average availability rate for warehouses and distribution centers in the U.S. declined slightly in the second quarter, aided by the healthy economy and fewer than expected construction completions, according to a new report from CBRE.

U.S. industrial availability declined by 10 basis points (bps) in the second quarter to 7.8 percent, its lowest level since the first quarter of 2001. The decline was the market’s 27th in the past 28 quarters.

The slight tightening of the market in the second quarter can be attributed to strong demand and a temporary slowdown in new supply.  The U.S. industrial market has benefited from general strength in the economy, notably gains in job growth, port traffic, increased e-commerce activity and key manufacturing indices.

Additionally, developers completed less industrial space in the second quarter (40.2 million sq. ft.) than was expected (46.5 million sq. ft.), according to CBRE.

“This bounceback in demand from a sluggish first quarter isn’t surprising, given the solid economic growth that we’ve seen this year,” said Jeff Havsy, CBRE Chief Economist in the Americas. “New construction deliveries are expected to pick up in the second half of the year since the pipeline of new projects is active.”

CBRE defines availability as the full amount of space available for lease, including vacant space and currently occupied space being marketed for occupation by other users.

In the second quarter, 42 of the U.S. markets that CBRE tracks registered declines in their industrial availability rates. Fourteen registered increases. Six were unchanged.

Markets posting the largest declines in availability in the second quarter from a year earlier include Wilmington, Del., (down 370 bps); Dayton, Ohio, (down 320 bps); Jacksonville (down 230 bps), Cincinnati (down 220 bps); Sacramento (down 210 bps); and Boston (down 200 bps).

Markets posting higher availability rates from a year ago include Austin (up 280 bps); Kansas City (up 130 bps); Fort Worth (up 120 bps); San Jose (up 100 bps); and Houston (up 90 bps).

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

Toys“R”Us® now accepting applications for part-time holiday jobs at stores and distribution centers nationwide

WAYNE, NJ, 2016-Sep-15 — /EPR Retail News/ — ’Tis the season to be hiring. While Saint Nick has his elves at the North Pole to help him prep for the big day, Toys“R”Us®, the world’s leading dedicated toy retailer, is seeking some helpers of its own to ensure every kid’s holiday list is fulfilled. Today (September 14, 2016), the company announced it is now accepting applications for part-time holiday jobs at stores and distribution centers across the country (no red suit or elf ensemble required).

Click to Tweet: #HolidayHiring is underway at @ToysRUs! Learn more & apply now: https://toysrusinc.com/holidayjobs

“Parents and gift-givers look to us during the holidays to deliver magic to the kids in their lives. There’s not a better time to be part of our company – it really is the most exciting time of year for our stores and distribution centers,” said Tim Grace, Executive Vice President, Global Chief Talent Officer, Toys“R”Us, Inc. “We’re looking for team members who want to become ‘holiday heroes’ and help us bring joy to kids everywhere.”

The seasonal hiring push will help ensure Toys“R”Us stores and distribution centers are fully staffed to meet customers’ needs and increased business demand throughout the holiday season. In-store positions include sales team members, cashiers and stock crew team members. Distribution center opportunities include warehouse operations, department managers, team coordinators and clerical specialists. Most holiday jobs are part-time, offering individuals flexible work schedules throughout the week.

This year, the company has enhanced its compensation packages, as well as introduced new seasonal incentives, to ensure it is highly competitive in local markets. Seasonal team members will also be eligible for the company’s team member discount – the perfect perk for the hottest toy-buying season.

Markets with the largest seasonal hiring needs include: 

  • New York, NY – more than 4,500
  • Los Angeles, CA – more than 2,700
  • Philadelphia, PA – more than 1,500
  • Chicago, IL – more than 1,200
  • Washington, D.C. – more than 1,000

Seasonal jobs can also be a great way to start a long-term career with Toys“R”Us for those seeking permanent employment. Every year, outstanding seasonal hires have the opportunity to become permanent team members. In recent years, 15-20 percent of the company’s holiday workforce has retained positions after Christmas, choosing Toys“R”Us to help further their careers.

Interested applicants can learn more and apply now at Toysrusinc.com/holidayjobs. Jobseekers are also invited to take part in national hiring events at all Toys“R”Us stores and distribution centers on Monday, October 10 and Friday, November 11.

About Toys“R”Us, Inc.

Toys“R”Us, Inc. is the world’s leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 875 Toys“R”Us and Babies“R”Us stores in the United States, Puerto Rico and Guam, and in more than 765 international stores and over 245 licensed stores in 37 countries and jurisdictions. With its strong portfolio of e-commerce sites including Toysrus.com and Babiesrus.com, the company provides shoppers with a broad online selection of distinctive toy and baby products. Toys“R”Us, Inc. is headquartered in Wayne, NJ, and has an annual workforce of approximately 62,000 employees worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. For more information, visit Toysrusinc.com or follow @ToysRUsNews on Twitter. Follow Toys“R”Us and Babies“R”Us on Facebook at Facebook.com/Toysrus and Facebook.com/Babiesrus and on Twitter at Twitter.com/Toysrus and Twitter.com/Babiesrus.

Media Contacts:
Toys“R”Us, Inc.
Alyssa Peera
973-617-5634
alyssa.peera@toysrus.com

SOURCE: Toys“R”Us, Inc.