While most commercial real estate sectors are suffering from rising vacancies and falling rents during the pandemic, industrial keeps outperforming its peers.
Buoyed by continuing strength in e-commerce, the warehouse/distribution vacancy rate was unchanged in the Q3. It posted positive net absorption for the 40th quarter in a row, according to Moody's Analytics.
Overall, net absorption came in at 20.74 million square feet in the quarter, increasing from 15.2 million in the second quarter. However, the third quarter's net absorption was lower than the 41.7 million square feet posted in 2019.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
