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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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A Safe Bet: South Florida’s Industrial Market Could Boom After Pandemic

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Industrial developer Jose Hernandez-Solaun of The Easton Group has seen Amazon spur the rise of e-commerce over the last few years. But now, he sees the coronavirus pandemic rapidly ramping up that growth — putting it on steroids.

“What we are finding now is the coronavirus effect,” said Hernandez-Solaun. “If the Amazon effect was strength training, this was what you get on performance-enhancing drugs.”

Hernandez-Solaun and other South Florida industrial brokers and developers say the sector could benefit in the long-term from many of the behavioral changes spurred by the crisis. Consumers, increasingly from older generations, will shift more of their spending to e-commerce. More manufacturers will come to the Americas from China. And after experiencing inventory shortages, more warehouses will be needed, experts say.

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The Unquestioned Winners Of 2017? Owners Of Industrial Land

Prices for industrial land have outpaced all other sectors this past year thanks to strong demand for warehouses and a dwindling supply of sites.

“This situation won’t go away any time soon, because the markets where distribution centers are most in demand—typically near or in densely populated city centers—have scant available land for industrial uses,” David Egan, head of global industrial research for CBRE, told the Wall Street Journal.

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