Industrial continues strong performance throughout 2020
Demand remained strong in U.S. industrial markets, with three consecutive quarters of positive absorption in excess of 45 million square feet, bringing the year-to-date total to 159 million square feet — nearly on par with the 160 million square feet reported in third quarter 2019, according to Cushman & Wakefield.
“These positive numbers are another sign of industrial resiliency and shows that there is still demand for space in the industrial market, even in uncertain times,” said Tray Anderson, Cushman & Wakefield’s head of industrial and logistics. “With the continued backing and strength of ecommerce, the market managed to accelerate through the first three quarters of 2020 without missing a step.”
The supply of new industrial space also performed strong in the third quarter, with new deliveries reaching 250.3 million square feet year-to-date — an 8.1 percent increase over the 231.5 million square feet reported as of third quarter 2019. Slight