Baker Reality Reports Success in 2015
August 12, 2015, Knoxville
Baker Realty Company has reported a successful first six months of 2015. During this period Baker Realty sold and leased $21,750,000 of industrial property including 862,000 square feet of industrial manufacturing and warehouse space. Some of the larger transactions were Polyone distribution center 166,000 sq. ft. and Teledyne Brown building 109,000 sq. ft., both in Clinton, and in Knoxville the Carter Lumber distribution center, 171,000 sq. ft. and the Woods II building in Westbridge Business Park, 108,000 sq. ft.
The amount of industrial space continues to trend downward to a vacancy rate of 7%, with a positive absorption rate in the 2nd quarter of approximately 300,000 sq. ft. East Tennessee industrial activity continues to be strong, mostly driven by the automotive industry, with investors and users taking advantage of the low interest rates.
Bob Thornton, SIOR
Baker Realty Company