Research

Cleveland Industrial Outlook - Q2 2020

An in-depth look at the Cleveland industrial market. Analysis includes leasing, sales, construction and employment.

August 26, 2020

Cleveland’s industrial market performed well in the midst of heightened COVID-19 uncertainty with healthy activity from companies like Amazon, Lordstown Motors, General Motors and more. During the second quarter, Amazon signed two new leases totaling more than 600,000 square feet. In June, Lordstown Motors unveiled its electric truck prototype and secured 1,000 new sales bringing its presale number to 14,000 units. Production of the truck is scheduled to start in the summer of 2021. Moreover, General Motors purchased a new site in Lordstown for $5.1 million and has begun construction of a $2.3 billion battery plant. Local companies were also active in the second quarter including GOJO, which is expanding into a 430,000-square-foot building in Navarre and a 320,000-square-foot facility in Maple Heights.

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