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NEW YORK—New York City's industrial real estate market reported a strong first quarter driven by demand for third-party logistics business space and storage needs for retailers, according to a report by CBRE Group.
Even as the region became the epicenter of the COVID-19 pandemic, quarterly leasing velocity was high at more than 2.8 million square feet and 700,000 square feet of renewals, primarily in warehouse and distribution properties.
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Cheryl Miller
Cheryl Miller, based in Sacramento, covers the state legislature and emerging industries, including autonomous vehicles and marijuana. She authors the weekly cannabis newsletter Higher Law. Contact her at [email protected]. On Twitter: @CapitalAccounts
