Spec development "is going to be halted" in the industrial sector, though demand will continue as tenants absorb remaining product, pushing leasing rates to new highs.
That's according to Ra'eesa Motala, Vice President, Industrial & Corporate Solutions at Rokos Advisors, who will deliver a keynote this week at the GlobeSt Industrial conference focusing on evolving trends in the sector.
Motala says today's tenants are looking for flexibility, functionality and location, with e-commerce, wholesale and distribution most active within the sector. She believes online shopping trends will continue to push in a positive direction, noting that despite Covid's threat to supply chains, "once retailers are able to stabilize and catch up with demand, there will always be an online shopper for essentials."
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