Industrial real estate version of “if you build it they will come.” CoStar recognized the 150,000 SF speculative development in Albuquerque, NM for an Impact Award. Completed in Q4 2023, the development is 77% leased. In talking to brokers across the country in Tier II or Tier III markets, I often hear a complaints of the lack of space to accommodate larger RFPs with a need more immediate than a build-to-suit can deliver. Sometimes these needs forced to larger markets or to take space across multiple buildings. As some larger markets are now experiencing softness in Class A industrial, I am curious if more developers will take the risk to develop in Tier II or Tier III markets that did not see a lot of new construction and remain supply constrained. costar.com/article/660332…