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Industrial Outlook For 2020-2021 Remains Strong

Aided by strong supply, consumer spending and other economic indicators, the North American industrial sector is projected to remain one of the leading commercial real estate product types over the next two years, according to Cushman & Wakefield.

The firm’s forecast for industrial absorption for 2020-2021 is nearly 460 million square feet, as new supply finally surpasses demand. The 2020 North American Industrial Outlook expects supply levels to reach 573.4 million square feet from 2020 to 2021, but notes vacancy will still remain at about 5 percent. It should end 2021 at about 5.2 percent, up 60 basis points from year-end 2019. The report also projects asking rents to increase by 6.8 percent and reach $6.95 per square foot by the end of 2021, up from $6.51 per square foot in 2019.

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Conditions Ripe For More Multistory Warehouses In Densely Populated Cities

Multistory warehouses are becoming more common in densely populated metropolitan areas, according to a new report put together by CBRE.

Seattle, San Francisco, New York, Miami, Chicago and Los Angeles are the most favorable markets for this type of industrial development to take place due to the high land prices, dense population and the high concentration of e-commerce shoppers in these markets.

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