COVID-19 has fundamentally changed the way employees work and the way businesses operate. The pandemic fueled the need for the continued transformation of office space to better support social distancing, provide cleaner and more efficient workplace environments, and offer work from home opportunities. From these patently correct observations about the office sector, many infer that the sector is in a state of decline and descent. However, what we are witnessing is not the end of…
2020 Q4 North America Market Report
INDUSTRIAL OVERVIEW: 2020 GROWTH SOARS ON E-COMMERCE DEMAND Driven by pandemic-fueled e-commerce sales, 2020 tenant expansion outpaced last year’s total after a fourth-quarter surge in demand by companies seeking additional warehouse and distribution space to improve supply-chain efficiencies. There were a net 99.2 million SF of industrial space absorbed in Q4 – the strongest quarter on record – and 203.7 million SF absorbed for the year, a 27% increase over 2019’s net growth. An array…