E-commerce real estate to grow 1B square feet over the next five years

While the COVID-19 situation has placed potholes and hairpin turns in front of some sectors like retail and hospitality, there’s nothing ahead but freshly laid asphalt for industrial real estate particularly e-commerce-related properties. New projections suggest that this segment will grow by 1 billion square feet over the next five years. JLL’s second quarter industrial outlook identified a number of trends, noting a sub-6-percent vacancy across the country with leasing velocity overwhelmingly propelled by e-commerce activity. As shelter-in-place policies constrained brick and mortar retail, more and more consumers turned to online shopping to acquire essential items.