Data recently issued by Chicago-based industrial real estate firm JLL reinforced the ongoing impact of the COVID-19 pandemic on the industrial and logistics real estate sector.
In its “Q1 Industrial Outlook,” JLL Director of U.S. Industrial Research Mehtab Randhawa wrote that e-commerce continues to be a trending topic of discussion, with demand from this industry driving the bulk of industrial leasing, with the caveat that leasing volumes are starting to normalize following an anomaly year.
“New technology and demographics continue to transform retail and push consumer expectations to new levels,” she wrote. “As the online shopping experience takes shape, ecommerce penetration is expected to normalize and force traditional retailers to incorporate rapid replenishment operations to compete.”
Those observations were made clear in JLL’s U.S. findings, including:
a record-high 85.6 million square-feet (MSF) in net…