Industrial Recovery: Inventory, Demand, and Space Needs

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In June 2020, Colliers Real Estate Management Services released a series of reports based on tenant surveys exploring office, retail and industrial recovery in the context of regulations, cost increases and adaption. We conducted a follow-up survey in November and our recent findings and analysis have formed a new series of reports.  

These reports provide an in-depth understanding of how tenants are coping with the economic impacts of COVID-19. They also offer a forward-looking view as to how tenants see the next 12 months based on what they know today. The third report in this series, Industrial Recovery: Inventory, Demand and Space Needs, examines how industrial assets have performed throughout the pandemic, COVID-19’s impact on vacancy rates, and the best-performing tenants. 

Key Takeaways:

  • Industrial tenants’ operating costs have increased by an average of 20%.
  • The cost of raw materials has increased by 12%.
  • Product demand has decreased by an average of 45% compared to the same time last year but is highly dependent on the industry.
  • 70% of industrial tenants would like to keep the same space they currently lease.
  • 6% of industrial tenants, of which 4% are small businesses, are planning to permanently close.

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Industrial Recovery: Inventory, Demand, and Space Needs

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For More Information, Please Contact:

John Duda

President, Real Estate Management Services Canada

Toronto Downtown

John Duda is the President of Real Estate Management Services, Canada. John began his career as Director of National Property Services at CIBC, joining Colliers in 2010. Appointed as head of Real Estate Management Services in 2017, John has driven significant growth both organically and strategically through the development of new service lines and markets. In his role as president, John a oversees 14 offices across Canada, working closely with local teams to create value-driven strategies in support of clients’ goals. 

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