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Q3 2020 Industrial Market Outlook

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U.S. Industrial Market Shows Growth in the Third Quarter

The latest report explores the current U.S. industrial market and predicts what the rest of 2020 may bring. At the end of the third quarter, U.S. industrial property fundamentals remained healthy, with minimal disruptions to the current growth trajectory. Overall net absorption remained positive, with occupancy gains of nearly 165 million square feet year-to-date, 3.3% higher than the same period a year ago. Healthy levels of new supply and increased demand for personal consumption items online helped maintain momentum in the industrial sector during the third quarter.

The upcoming holiday shopping season will be a key for what kind of momentum the U.S. sees in 2021. Overall retail sales were up 1.9% in September, much higher than original estimates suggested. Sales rose in every major category, except for electronic and appliance stores, which fell by 1.6%. These retail figures should encourage demand for warehouse distribution space in the coming months, given the continued growth of e-commerce. E-commerce growth continues to be a driving factor for industrial demand, as the pandemic has accelerated the trend of increased online sales by a few years.


Q3 2020 Industrial Market Outlook

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Pete Quinn

National Director, Industrial Services


As National Director of Colliers Industrial Services-USA, Pete Quinn’s role is to strengthen Colliers platform and to collaborate with other key service lines ― Corporate Solutions, Investment Services, Occupier Services Groups, Logistics and Transportation Group ― to deliver a deep bench of logistics and site selection strategies to industrial user-groups and participants in the logistics, transportation and distribution industries.

Pete’s stand-out strengths are his commitment to understand corporations’ broader goals and challenges and then assembling a team of high-octane professionals to drive smart solutions to achieve those goals. During his 30 years in the industry, he has provided consulting and transactional representation for numerous Fortune 500 companies. 

Prior to Colliers, Pete Quinn was a co-founder of Summit Realty Group, an affiliate of Cushman & Wakefield. He then transitioned to join C&W’s Industrial leadership team as Executive Managing Director, Global Supply Chain Solutions and Industrial Operations. He served on its Global Supply Chain Solutions Group and was appointed to its Industrial Executive Board. Early in his career, he was on the developer side, serving as Vice President at Eaton & Lauth Commercial (now Lauth Group).

Notable industry acknowledgements: Recipient of IAMC Michael P. Hickey Award, Largest Deal in the U.S. – SIOR, Largest Deal of the Year – First Industrial, and Hall of Fame inductee of Midwest Real Estate News. 

Pete is a Board Member for IAMC, IWLA, St. Mary's Child Center, Central Indiana Police Foundation and Indiana Sports Corp.  He is the Chairman of the Board of the Boiler Business Exchange. 

Pete is actively involved in his alma mater, Purdue University, where he was a starting offensive lineman for its football team from 1978-1981 and team captain in 1979 and 1980. He was voted to Purdue’s 100-Year All Time Football team and is in his 30th season as Football Color Analyst on the Purdue Sports Radio Network.

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Amanda Ortiz

Director, National Industrial Research

Chicago - Rosemont

Amanda Ortiz is the Director, National Industrial Research on the National Marketing & Research team at Colliers. Based in Chicago, Amanda partners with national and local teams to deliver market intelligence initiatives and provide direction to drive national competitive advantage through research strategy, development and analytics.

Amanda possesses comprehensive experience in both database management and trend analysis. Her knowledge of the macro and micro factors affecting the commercial real estate market results in proactively positioned research.

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