New Report: Strong Growth in Demand for Industrial Space

Originally published by NAIOP Research Foundation on February 22, 2021.

Strong Growth in Demand for Industrial Space

The NAIOP Research Foundation has published the NAIOP Industrial Space Demand Forecast or Q1 2021.

Key Takeaways

  • The pandemic has accelerated eCommerce adoption and industrial space absorption.
     
  • Federal stimulus programs have also contributed to an increase in industrial space absorption, with the fourth quarter of 2020 experiencing the largest quarterly net absorption since 2000.
     
  • Total net absorption in 2021 is forecast to be 314.9 million square feet. In 2022, total net absorption is projected to be 231.6 million square feet.

  • Uncertainty about when pandemic restrictions will be lifted continues to make forecasting future absorption rates more difficult than in previous years.

SPECIAL WEBINAR

What are the factors impacting industrial demand, and what are the opportunities and challenges that lie ahead for the sector? Join the forecast's authors for a webinar on April 12 at 2 p.m. ET to go more in-depth and participate in live Q&A. Free for members; register now.

 

View the Forecast
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