By Patrick Burnson, Executive Editor ·
February 4, 2021
As promised in a post made in this spacer earlier this week, we wish to share JLL’s Q4 U.S. Industrial Outlook.
Despite the COVID-19 pandemic and nationwide economic uncertainty, industrial leasing activity in the U.S. continued to set new records in 2020.
Here are the Q4 2020 Industrial highlights:
• Leasing activity jumped 26.9 percent from 2019, with e-commerce being the primary driver of demand
• U.S. industrial rents increased $0.09 to $6.39 per square foot
• 97.5 million square feet of industrial space was realized this quarter, bringing year-to-date absorption to 273.5 million square feet
• Only 5.4 percent U.S. industrial vacancies this quarter
Craig Meyer, President, Americas Industrial, JLL, says he expects capital markets to be driven by a growing demand for infill, multi-tenant industrial sub-class known as small bay logistics assets:
“Small bay logistics assets are 20,000- to 100,000-square-foot multi-tenant industrial buildings in dense, infill locations in primary and secondary U.S. markets,” he says. “This sub-class has huge potential for rent growth driven by low vacancy.”
February 4, 2021
About the Author
Patrick Burnson, Executive Editor
Mr. Burnson is a widely-published writer and editor specializing in international trade, global logistics, and supply chain management. He is based in San Francisco, where he provides a Pacific Rim perspective on industry trends and forecasts. He may be reached at his downtown office: [email protected]
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