Half of Industrial Construction is Speculative
Half of the 96.7 million square feet in current industrial construction is speculative, according to new research by Jones Lang LaSalle. What originally began on the West Coast is now steadily increasing across the U.S., most notably in the Mid-West and Northeast.
Small- to mid-size distributors remain the most active consumers of this space with more than half of this construction representing facilities smaller than 500,000 square feet. Development activity in the big box segment also remains strong.
Food and beverage companies are highly active, particularly in the Northeast, while commerce retailers are congregating to the Northeast and Mid-West. Logistics and distribution requirements are generally spread across regions, with a West Coast emphasis.
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