The future of industrial CRE is strong, but advancing in a new direction, according to a report from Newmark and NAIOP.

CRE for advanced manufacturing is the wave of the future, while warehousing and distribution take a back seat, the report finds. It predicts new construction related to the high tech, automotive, energy and biomanufacturing sectors will add 6% to 13% to the nation's existing manufacturing space within the decade. And the U.S. will not be the only beneficiary. Canada and Mexico, as well as U.S. cities along the border with Mexico, will also see significant growth in these sectors.

"Since 2020, over 300 major manufacturing facility announcements have been made across North America, representing approximately $400 billion in pledged project investment, at least 210,000 new proposed jobs, and a minimum of 250 million square feet of new development over the next decade," the report stated, calling this "a watershed moment".