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Obsolescence in The Quad Cities?
The good news for the Quad Cities region (Moline, East Moline and Rock Island, IL; and Davenport and Bettendorf, IA) is that current economic activity is positive. Local employers are anticipating expansion.
The not-so-good news? There isn’t enough quality property inventory to fulfill “the future demand of tenants, buyers and investors,” according to NAI Ruhl Commercial Co.’s Commercial Real Estate Market Report. Much of the available space is functionally obsolete.
The report noted that since 2013, the Quad Cities market hasn’t been able to meet demand for large warehouse-distribution buildings of 100,000-400,000 square feet. The same issue is plagues the retail sector, with space less than 4,000 square feet difficult to find.
