The industrial sector is expected to weather the economic ramifications of the COVID-19 pandemic better than other areas of the economy, according to an Industrial Sector Outlook report by Colliers.
The lessened impact to the industrial properties sector is thought to be due to the high demand for e-commerce projects and groceries. The need for industrial space stays high, with 329 million square feet of industrial project under construction at the end of this quarter.
Companies such as Amazon fared well as e-commerce growth accelerated. Amazon occupied more than 6 million square feet of industrial space in 2020, with additional plans to add capacity.
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*May exclude premium contentPearl Wu
Pearl Wu is the editorial Recognition Desk Manager at ALM Media and oversees the administrative aspects of U.S. Legal awards. Please find our upcoming deadlines here.
