Big-Box Space Remains in High Demand Despite COVID-19 Repercussions
Colliers’ Midyear 2020 North America Big-Box Market Report examines the North American big-box industrial market in the first six months of 2020, which includes the seven core North American big-box markets, as well as nine emerging secondary markets. We highlight the fundamentals, take a look at demand factors including demographics and logistics capabilities and assess what lies ahead for the remainder of 2020 and beyond.
While the COVID-19 pandemic negatively impacted the U.S. economy at the start of Q2 2020, the demand for industrial space managed to increase throughout this unique time. The accelerated growth of industrial industries in the U.S. maintained momentum throughout the pandemic, as industrial product – and big-box space, in particular – remained in high demand. Vacancy, transaction volume and product under construction remained relatively flat across the country, while asking rents and net occupancy surged in the first half of 2020.
Download the 2020 Midyear North America Big Box Review and Outlook.