Life Science: Thriving as Never Before
Life science real estate, along with data centers and industrial real estate, has thrived enormously over the past two years of the pandemic. As the world economies transition to a new phase, where COVID-19 is understood to be in an endemic state, there are no signs that demand for this fast-growing niche in commercial real estate is diminishing. In fact, the demand for lab space is only intensifying. This report will identify and explain the…
2021 Q4 Economic Report
GDP GROWTH: The nation’s gross domestic product grew by 5.7% in 2021, the fastest rate since 1984. The Commerce Department also reported in its advance estimate released in late January that growth accelerated in the fourth quarter at an annualized rate of 6.9%, following a 2.3% reading for the third quarter. The increase reflected gains in private inventory investment, exports, personal consumption expenditures, and nonresidential fixed investment that were partly offset by declines in federal,…
2021 Q4 North America Market Report
INDUSTRIAL OVERVIEW: DEMAND FOR LOGISTICS SPACE SOARS Fueled by an unprecedented boom in household spending during the pandemic, demand for warehouse-and-distribution space soared 147% in 2021, driving down the vacancy rate to a record 4.3%. Net absorption totaled 503.4 million SF in 2021 compared to 203.7 million SF for 2020. Fourth quarter 2021 demand totaled 136.9 million SF, down from 157.9 million SF in Q3 but up 38% from the 99.2 million SF of net…