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An Industrial Developer’s Insights On The Pandemic’s Impact

Although there are some rising uncertainties, the industrial sector appears to be weathering the current crisis caused by the coronavirus outbreak better than other industries. Despite nationwide shutdowns of construction sites, warehouse developments were deemed essential in most states. In 16 of the current top 20 markets for industrial space construction, workers are actively building, according to CBRE.

Commercial Property Executive reached out to industrial developer Bridge Development Partners for a close-up on the industrial market. Jeff Milanaik, Northeast region partner, unveiled how the sector is impacted and what is behind the sector’s strength during this global health crisis.

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Could COVID-19 Benefit The Industrial Real Estate Market?

There is no doubt COVID-19 will negatively affect many sectors of the real estate market, but not all industries will be impacted in the same way. Industrial real estate, in particular, may actually benefit from the current crisis.

CBRE Group published a market update on April 8, 2020, specifically relating to the impact of COVID-19 on the industrial sector of commercial real estate, clearly showing that several types of industrial real estate are seeing huge increases in demand since the outbreak.

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