Overall, major West Coast markets have trended positively for industrial product despite pandemic conditions, with local sentiment for tenants improving quarter-over-quarter. Though recovery is still forecast for 2021, the Portland industrial market has continued to record positive net gains overall, according to a CBRE research report.
Drilling down into industrial sectors, third-party logistics firms are the main drivers of airport industrial activity, accounting for 29.6 percent of activity in major airport submarkets, followed by general retail and wholesale (24.4 percent), and pure-play e-commerce-only companies (16 percent).
“As e-commerce providers and retailers compete to offer faster delivery times, air freight will increasingly be a key component of distribution strategy,” said John Morris, executive managing director and leader of CBRE’s Americas industrial and logistics business. “Rent for warehouses and distribution centers around major air cargo hubs should continue to rise, especially in markets where there is limited development space. Customers today expect fast delivery, but there is a cost associated with leveraging air transportation for e-commerce delivery.”
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.