Industrial construction is forecast to have hit record levels in Q2 2022 however the supply chain, labor and inflationary cost increases have left companies under-equipped to meet demand, according to a new report from Newmark.
As a result, longer construction timelines are in place for the projects expected to exceed 600 million square feet nationwide in total.
The entitlement and construction process for new industrial projects across the country are now taking five months longer on average than in 2019.
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