December 26, 2020. That’s when the current Ontario-wide lockdown started. Many are working from home or in isolated office spaces. Others still work on-site to provide essential services that make our lives & our businesses run. Not often mentioned in the news, but recognized: couriers, grocery clerks; farmers; truck drivers; production workers at manufacturing facilities; and warehouse workers. As office spaces sit in limbo, the industrial market is gaining strength, especially warehouse space. With retail shops temporarily shut down, consumers are spending mega bucks online. According to experts, retail sales in Canada dropped $33.9B in April 2020 & e-commerce sales increased 123.59%. So what about managing resources & inventory storage? That’s where the strength of the industrial market comes in. Logistics demands are here to stay, Investors, tenants & developers know it. I know it. We could see unprecedented activity with a forecast of conversions from retail centres to warehousing. I’m ready. Are you?
COMMERCIAL TO INDUSTRIAL
by Jonathan Gorenstein | Jan 21, 2021 | Commercial Real Estate, Customer Service | 0 comments