THIS WEEK’S TOP 3
Stats to Know

1) DFW is leading the nation in industrial sales volume with over $3.3B in sales through Q3.

• Competitive Pricing: Properties in DFW traded at $126 per SF, below the national average of $130 per SF, which is attractive to investors who believe in DFW’s fundamentals.

• Robust Development: Over 15M SF of industrial space is under development, ranking No. 2 nationally, behind Phoenix.

• Strong Rent Growth But High Vacancy: In-place rents grew by 8% year-over-year, with DFW’s average rent at $6.11 per SF, higher than Atlanta’s $5.97 per SF. That being said, the region's vacancy rates sit at 7.5% which is above its long-term average.

2) OPEC forecasts oil demand to grow by 2.2 million barrels/day in 2024 (104.5 million barrels/day on average)

• Global Economic Growth: Global GDP growth is estimated to increase 2.9% for 2024, signaling resilience in major economies.

• Key Drivers for Growth: It is projected that the majority of this growth will be driven by mobility, air travel, and industrial activity.

• Challenges Ahead: Globally, uncertainty on US interest rates and potentially reduced demand in China could cause the GDP growth to fall below projected numbers.

3) The Philadelphia Fed’s gauge of regional business activity fell to negative 5.5 in November, down from 10.3 in October, which signals weakening conditions.

• Key Metrics: The decline marks the second negative reading of 2024. Economists expected a positive 8.2 for November, but they missed the mark.

• National Trends: Manufacturing remains weak, with the national ISM factory index in contraction for 23 of the past 24 months, most recently at 46.5% in October.

• Mixed Signals: The Empire State Index for New York showed a sharp rebound in November, but the Philadelphia Fed's decline suggests this may reflect local rather than national trends.

CHART OF THE WEEK 
Turkey Day

About 218 million turkeys were raised in the US in 2023, and Minnesota has consistently held the title as being “America’s turkey raising champion.”

NOTABLE QUOTES
They said…

“We believe that high-quality real estate adjacent to transport infrastructure will continue to outperform given its mission-critical role in local and national supply chains.”
- Phill Solomond, Senior Managing Director at BNSF Alliance

“The big picture remains that manufacturing is struggling amid weak external demand and still tight credit conditions, which are weighing on investment plans. The incoming Trump administration’s plans for extensive new tariffs present an additional near-term challenge for the sector.”
- Samuel Tombs, Chief US Economist at Pantheon Macroeconomics

RUMOR HAS IT
We’ve heard…

• Black Friday is great for deals, but it’s also the busiest day for plumbers. Plumbing companies don't really get the Friday after Thanksgiving off since it's one of their busiest days of the year (who would’ve guessed…). Supposedly, Roto-Rooter Plumbing and Water Cleaning company actually calls it "Brown Friday."

Happy Thanksgiving, YardDogs!

Please note that these are just rumors we’ve heard in the market. We are not representing any of these claims as true or false, and will cover them in greater detail when more sources and information is available.