Industrial Occupiers Plan on Needing More Space in Next Few Years
Industrial demand is expected to maintain a healthy pace, though likely not at the record set in 2021, according to CBRE’s Industrial Occupier Survey. Of the 100 U.S.-based respondents, 64% overall and 81% of third-party logistics companies plan to expand their real estate footprint over the course of the next three years, economic uncertainty notwithstanding.
Food and beverage (75%) and building materials and construction (75%) companies also intend to expand their real estate footprints despite supply chain disruptions, labor shortages and high occupancy costs.
“The U.S. industrial market is continuing to see robust demand, and companies are adding warehouse and distribution space to protect their inventories, diversify their supply chains and process growing e-commerce sales,” said John Morris, CBRE president of industrial & logistics in the Americas. “Even with a more challenging economic backdrop, we’re still seeing that companies are interested in expanding their footprints in the short-term.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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