[alvern]

If you look on loopnet, the cost of office versus warehouse per sq ft is staggering. It's a large visual indicator of a bubble.

I've been looking for 1500-3000 sq ft for a light manufacturing space for around two years. In my area warehouse $/sqft is $5-7 a year. Office space is $13 for old and dated layouts. I have no use for that dotcom era conference room. I need 10 ft dock doors, tall ceilings, and reliable 3 phase power.

Buying land outside my metro area and building new is becoming the only option for me until this crash actually happens. Sprawling out of the metro would only bite me down the line because the labor market is even tighter in rural areas.

[bagels]

What would be a non bubble price to you for industrial space?

[alvern]

In 2022 I would have accepted $10 per sq ft if it ticked all the boxes. There's been a few spaces I kicked myself over not signing soon enough ($6 per sq ft, 3200 sq ft, large with ample power 480v with 600 amp service, concrete roof, dock door)