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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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New-To-Market Companies Flocking To This Doral Business Park

Beacon Centre, a class A business park located at Northwest 25th Street and Northwest 84th Avenue in Doral, is 100% leased.

Ownership just secured two new, long-term leases totaling 40,000 square feet to new-to-market tenants. Transwestern senior vice president Thomas Kresse, senior managing directors Walter Byrd and Ben Eisenberg, and senior associate Carlos Gaviria represented an institutional real estate manager in the transactions.

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