Colliers' latest report takes a close look at the key factors that impacted the U.S. industrial market at the end of 2020. Despite the COVID-19 pandemic, the U.S. industrial sector had a record year in 2020. The U.S. industrial market remains relatively tight and demand persists in both core and secondary markets. Occupancy gains were up almost 19% higher than a year ago, and 2021 is already shaping up to be another steadfast year.
The outlook for 2021 is positive. If the projected economic rebound comes to fruition in 2021, bulk warehouse/distribution space will remain in high demand by e-commerce retailers and manufacturers for many quarters to come. Digital platform leaders like Amazon, Target, Wayfair, Walmart and Home Depot will continue to consolidate by absorbing smaller businesses and will require larger facilities. This bodes well for the future of industrial construction and even multi-story warehouses. Expect another strong year for the U.S. industrial market.