Top 5 industries make up close to 70% of 2020 Industrial tenant demand
Compared to last year, the top 5 industries represented only 51% of demand. The share is growing.
Most active industries
The top 5 industries make up over 65 percent of all tenant requirements in the U.S.
E-commerce creeps into the industries, too. For instance, roughly a fifth of Traditional Retailers need immediate e-commerce space in 2020.
- The 2020 U.S. Industrial Demand Study gathers in-depth data on where tenants are looking, what industries are driving leasing activity and how different size segments are impacting local Warehouse & Distribution markets. The data tallied this year to a total of 543 million square feet of tenant requirements.
- Highest growth: e-commerce Retailers grew by 100 percent, YOY, the biggest growth seen out of all industries.
- Logistics & Parcel Delivery tenants are looking mostly in the 250,000 to 500,000 square foot range. Tenants are looking for big space but not necessarily mega-blocks (1 million square feet and greater).
- For Traditional Retailer demand, Home Improvement, DIY & Garden stores have held the top spot for a few years now but growing in share in 2020.
- The growth in demand for Food & Beverage space is enormous as a result of COVID-19, as consumers continue to buy more and more of these products online.
- Consumer Products demand held steady at 47 million s.f. from 2019 to 2020. The stability of consumer demand keeps this industry constant; the other top industries can fluctuate more.