As the April 2 deadline for a 25% increase in tariffs on a wide range of imports from Canada, Mexico and China gets closer, industrial and retail property will see the most immediate impacts if consumer spending weakens and the flow of goods shifts, according to a new analysis from CBRE.
“We expect that some large industrial occupiers may delay signing leases in the near term, with third-party logistics (3PL) companies accounting for a larger share of leasing activity as more businesses rely on them amid uncertainty,” the report noted.
It does not expect the recovery in the office market to stall unless there is an economic downturn. It notes that many economists believe the tariffs are likely to slow short-term economic growth and increase inflation, though, in the long term, tariffs may spur some domestic manufacturing.
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