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Asia's Lofty Factory Rents


Economic Trends

ASIA'S LOFTY FACTORY RENTS

The world's nine most expensive places for industrial space, with annual rents from $11 a square foot in Kuala Lumpur to $37 in Tokyo, are all in Asia, reports Colliers International Property Consultants Inc. And some of the tightest markets are in Eastern Europe: Prague and Budapest have vacancy rates of 0% and 2%, respectively. (The highest vacancy rate in Colliers' survey is Mexico City's 25%.)

By contrast, the cheapest cities for factory or warehouse space are in North America. Of the bottom 20, with rents of $2 to $3 per sq. ft., 14 are in the U.S., and 5 in Canada. Most of America's bargain cities are in the Midwest, South, or Southwest. The best deal in the 83-city tally: Kansas City, with rents of just $2 a sq. ft.BY GENE KORETZ


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