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.
The COVID-19 pandemic is disrupting the supply chain and forcing many consumers to change the way they shop. But while these disruptions are creating economic strain, they also present huge opportunities for industrial real estate.
It’s easy to see why. Social distancing has changed the nature of how people buy goods because, in the absence of conventional retail, consumers are making the most of their purchases online.