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Industrial Demand Shows Continued Strength Through Q3
Cushman & Wakefield said Tuesday that the nation’s major industrial markets showed continued strength during the third quarter despite the pandemic and subsequent lockdowns, largely on the performance and expansion of e-commerce.
Demand remained strong, with three consecutive quarters of more than 45 million square feet of positive absorption. New leasing activity year-to-date also managed to outpace 2019.
“These positive numbers are another sign of industrial resiliency and shows that there is still demand for space in the industrial market, even in uncertain times,” said Tray Anderson, Cushman & Wakefield’s Americas head of logistics and industrial. “With the continued backing and strength of e-commerce, the market managed to accelerate through the first three quarters of 2020 without missing a step.”
Added Carolyn Salzer, Americas head of logistics and industrial research, “We expect continued strength as retailers, grocery, life sciences continue to require industrial space – particularly distribution and warehouse.”
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- ◦Economy
- ◦Lease
