Global commercial real estate services and investment company, CBRE, recently published their 2022 Industrial Occupier Survey, revealing that 64 percent of US firms and 81 percent of third-party logistic companies have plans to extend their real estate footprint in the coming years, in spite of persistent economic uncertainties.
This trend is also reflected in the food and beverage space and building materials and construction space, where 75 percent of companies also plan to expand their footprints despite ongoing supply chain struggles, shortages in labor and more.
This is all reflective of what GoDocs CEO, Steve Butler, has seen for himself in recent months. “The recent CBRE survey showed that most companies are planning to expand their real estate footprint over the next three years via warehouse and distribution space. This aligns with the robust demand we’ve seen at GoDocs in terms of existing customer loan volumes in warehouse and distribution commercial real estate. No matter the current economic uncertainties, it’s clear that markets in the Southeast and other logistical hubs will remain strong in the short term.”
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Which markets beyond the Southeast will industrial occupiers favor in 2022 and beyond? According to the CBRE survey, the Southwest and Midwest will be key regions, as well, during this ongoing expansion, thanks to their roles as strong logistical and transportation hubs and their still strong labor forces.
What will industrial occupiers be looking for in terms of industrial spaces? The survey indicates a shift back to essentials, citing clear height, number of bays and dock doors, and power supply as the most important features to look for in sites, as well as a properties capacity for expansion. While somewhat moderated when compared to the “bumper” year of 2021, all of this indicates a strong 12 to 24 months to come in commercial real estate.
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