Warehouse owners see some reason for optimism

Warehouse landlords are reporting declines in rental rates but say there are some signs of optimism in the beleaguered sector. "I don't want to draw any conclusions too quickly, but I do feel much better about what's happening on the operational side," ProLogis Chief Executive Walt Rakowich said after the company reported a third-quarter loss of $11.8 million, or 3 cents a share, down from earnings of $32.2 million, or 12 cents a share, a year ago. In addition to declining rents, warehouse owners are battling rising vacancy rates.

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