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Industrial Real Estate Demand Strong Heading Toward Final Months Of Tumultuous Year

The nation’s industrial real estate market is headed toward the closing months of 2022 with strong demand overcoming uncertainty about the course of the global economy.

Leasing of logistics, manufacturing and warehouse properties has been hitting records during the third quarter as businesses and investors also build and buy industrial properties at near-record levels, analysts and brokers told CoStar News. That comes as they describe heading into a fourth quarter beset by uncertainty as the prospect of a recession looms, interest rates are expected to bump up further and the pandemic grinds on.
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The Boom Times in Industrial Real Estate Are Far From Over

industrial warehouse

Industrial real estate has been the standout sector in real estate for close to a decade, and the pandemic only further entrenched its position.

While other sectors of the economy ground to a virtual halt, consumers’ accelerated shift toward e-commerce made industrial one of the few assets to benefit from lockdowns and social distancing.

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Industrial Real-Estate Developers Are Hot On Cold-Storage Warehouses

Industrial real-estate developers have been stepping up building cold-storage warehouses in the U.S. without tenants lined up for the space, betting that pandemic-driven changes in the way consumers buy groceries and meals are here to stay.

Nearly 3.3 million square feet of refrigerated warehouse space was under construction through the second quarter of this year nationwide without companies slated ahead of time to take up the sites, some 1,000% more than was built in 2019, according to a report just by real-estate services firm CBRE.

The growth in what is known in real estate as speculative construction follows an upheaval in consumer buying patterns during the Covid-19 pandemic, as Americans rushed to buy groceries online and stocked up on more frozen foods while supermarket chains and food suppliers recast their supply chains to meet the demand.

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