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The industrial market has continued to be a bright spot for the commercial real estate industry throughout the COVID-19 pandemic. That trend continued through the end of 2020 and throughout the first quarter of 2021. The new year, however, offered a fresh start and a potential light at the end of the pandemic tunnel. In multiple markets, industrial demand continues to far outpace supply. At the same time, there has been almost no speculative building. Businesses want to grow but remain cautious due to uncertainties related to the pandemic. It has also been difficult to find experienced talent despite an unemployment rate of nearly 6 percent. In multiple markets, advisors are seeing consistent activity after the initial hesitation spurred by the pandemic.
