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The U.S. industrial real estate sector continues to perform exceptionally well despite headwinds facing commercial real estate. Robust net absorption, rent growth, construction and occupancy all remain healthy, fueled by the continued growth of e-commerce and an increase in demand for warehouse and distribution space. In the second quarter of 2020, e-commerce sales grew 31.8% from the same time last year and now represent 16.1% of total non-auto retail sales. E-commerce is expected to continue to be a driving force in industrial real estate for the foreseeable future.
DM Colliers Real Estate Advisory has compiled some of the most recent headline numbers from the third quarter of 2020:
Despite the ongoing pandemic and tensions surrounding the U.S. presidential election, interest in warehouses and industrial buildings is expected to remain strong as companies continue to adjust distribution networks to accommodate increasing e-commerce demand.
For example, Amazon’s explosive growth is expected to continue. It recently announced that third quarter sales surged 37% to a record $96.2 billion. The company plans to add 100,000 seasonal workers in the United States and Canada to meet holiday demand, as sales volumes are expected to increase even more by year-end. As Amazon continues to seek space in nearly every major market, the strength of U.S. industrial real estate will continue to outpace other commercial sectors.
If your business has a need to reevaluate its industrial real estate to accommodate growing stakeholder needs, contact DM Colliers Real Estate Advisory. Our team of commercial experts stand ready to help you identify space to meet your objectives, negotiate the lease agreement and much more.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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