E-commerce, new technologies and supply chain resiliency have created strong tailwinds for the North American industrial market. These trends are set to shakeup supply-demand dynamics in this CRE sector, as new figures from Cushman & Wakefield show.
C&W projects overall vacancy to gradually rise by about 60 basis points to 5.8% by the end of 2021. It will then rise an additional 40 bps to 6.2% by year-end 2022. With new deliveries coming online, C&W says that would alleviate some, though not all, of the pressure on supply-constrained markets throughout North America.
C&W projects new deliveries to hit 697.3 million square feet by 2022. Over 51% of that space will come online in 2021.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
