SoCal Industrial Market Outlook Year-End 2020
SoCal’s Industrial Markets have remained surprisingly resilient under the COVID-19 pandemic shutdown
At year-end, Southern California’s Industrial Markets have remained surprisingly resilient in the face of an economy that has spent three-fourths of 2020 under the COVID-19 pandemic shutdown.
The pandemic has accelerated online shopping and ecommerce growth, boosting robust demand for warehouse and distribution space in the region. Year-end figures show vacancies are low and asking rents high for industrial space in Southern California.
The lasting impacts from the pandemic will fundamentally change how people shop – ensuring a continuous demand, from ecommerce, for industrial space heading into the new year.