July 8, 2020
The transaction gap between industrial and office leasing professionals is growing wider as the market effects of the COVID-19 pandemic persist, according to SIOR’s third monthly Snapshot Sentiment Survey.
While market confidence is up overall, industrial transactions are more likely to proceed on time than office deals. Office brokers have less confidence in their markets over the next six months: 6.24 on a 10-point scale, compared to 6.82 for industrial.
“A lot has happened in three months and June’s survey results are beginning to show a distinct trend,” said SIOR Global president Mark Duclos. “E-commerce continues to be a significant driver for industrial and in many ways, 2020 is likely to reflect that.
“On the office side, deals are still being done, albeit at slower and reduced levels,” he continued. “Many companies are determining how to have employees safely return to work, and finding some logical solutions could take time.”
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