REmark | INTERACTIVE: What Spec Construction Reveals About Developer Confidence and the State of the Market

The level of speculative and build-to-suit industrial projects drew almost even in the second quarter of 2025, a notable shift from recent quarters when build-to-suit projects held a distinct advantage. For this REmark, Hiffman’s Research Team examined the ratio of BTS and spec construction over the past seven years to demonstrate the correlation between that ratio and the economic forces at play in the commercial real estate market.

Explore our interactive graphic to learn more. Click here to open a larger version in a new window.

For more information, contact our Research team:
Denes Juhasz
Director of Research
djuhasz@hiffman.com
630-693-0645