Industrial demand sets records post-pandemic as shopping hubs reopen and economies show signs of revival: Firms lease over 300 million square feet of warehouse space in Q2.
National demand for warehouses and industrial buildings has hit record levels in the first half of the year, driven by a surge in online and physical store purchases. In the second quarter, leasing, sales, and construction activities reached all-time highs, with leasing expected to surpass 300 million square feet nationwide. Increased consumer spending, fueled by government stimulus checks, has intensified the need for logistics space. Smaller cities are seeing a significant rise in demand, drawing away from established hubs. U.S. construction of industrial spaces also broke records, exceeding 400 million square feet. This boom has led investors to spend a record $29 billion on industrial property purchases.
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