The U.S. warehouse market is booming like the red-hot housing sector, as companies compete for scarce distribution space to meet surging e-commerce demand. The competition is driving up industrial rents as retailers and logistics providers race to move goods closer to population centers, with some engaging in bidding wars for the most coveted sites. Businesses are pushing to deliver online orders faster to the homes of digital shoppers and responding to growing consumer spending that…
2021 Q2 North America Market Report
INDUSTRIAL OVERVIEW: E-COMMERCE GROWS AND SETS INDUSTRIAL RECORDS There are a number of records being toppled in the nation’s industrial real estate market, which is consumed by demand for logistics solutions. Net absorption set a record in the second quarter with 134.7 million SF, and record mid-year tenant growth totaled 208.7 million SF, just shy of the net absorption total for all of 2020. More than 200 million SF is set to be delivered…