Florida Industrial Construction Report Q3 2020

Chris Owen • 11/17/2020
Nine months into the pandemic, demand from industrial users accelerated with powerful impacts on all Florida markets. Traditionally, industrial space is the most responsive to immediate changes in the overall economy due to shorter construction timelines and tenants' nimble ability to ramp up or down operations based on demand.

FL - Industrial Construction Q3- Header

E-commerce exploded in every major Florida market but demand was tied to only a few users. It spearheaded several larger build-to-suit projects throughout the state and drove significant speculative construction absent any preleasing.

As the industrial market adjusts to a COVID-19 world, long-term demand for space could moderate and lead to several million square feet of proposed space to be postponed or shelved.