Formula 1 has turned the eyes of the world onto growing American cities. With eyes comes tourism, and with tourism, comes infrastructure, jobs, and growth. F1 has smartly partnered with American cities destined for growth, and tech companies have followed suit.
Expect 2021 to perform across all sectors. We are finally getting optimistic results from the Covid vaccines and will be back to business as usual in no time.
Stay healthy and remain positive. Next year will be much different.
In 2019, logistics spending accelerated with an 11.4% increase parallel to the e-commerce growth within the United States. In the past decade we have seen industrial rents hit an all-time high, but the demand for more space is growing. The hiccups this nation has faced in its international supply chain logistics validate the necessity for expansion in our nation’s infrastructure.
The industrial market will remain strong, as COVID-19 has taught us that e-commerce remains vital, especially in a pandemic.
Overall, the commercial real estate market did well in 2019 and depending on what market you were in, it did very well.