Despite evident construction in the industrial sector, Raichura said that values are dropping.
“I think in truth, certain industrial values have fallen a lot more than the index,” he said. “Forecasting suggested, and we’ve been saying this for at least a year or so, we think industrial will outperform in the coming year.”
Raichura explained that the falling values happened in the market and are reflected in appraisal-based indices. He said that the indices are far behind the current market.
ReZa Norozy, COO of Prism Construction said that interest rates were expected to drop in 2024, and they did, though not as much as hoped.
With Over 600 Properties Developed, $2B in Construction, and 20M Square Feet Built, Prism Sets the Standard in Design-Build Construction
On March 26th, 2021, Prism’s construction crew witnessed the Topping Out of the structural steel at the future home of Maple Leaf Self Storage on 1575 Kootenay St. The milestone marked a great achievement in the project for Prism Construction, AI Industries, and Maple Leaf Self Storage.
Prism has started a new tilt up industrial building construction on 19322 32A Ave, Surrey, BC. The facility is to be 205,000 Square Feet in total, with Building A making up 50,000 Square Feet and Building B making up 155,000 Square Feet. The estimated completion for the project is to be March 2022.