Continued demand & growth in 2020? Looking good for whse.; offices and medical spaces; property
Sheldon Gross Realty has represented commercial business and property owners for the past 70 years, and we’re confident 2020 will carry forward the positive momentum of 2019. • Industrial / Warehouse & Manufacturing Leading the way for all real estate sectors is industrial property to purchase, and the unprecedented demand will continue. Leasing, on the other hand, appears to be bifurcated. Lease demand for state-of-the-art / best-in-class distribution facilities larger than 100,000 s/f and along major trucking routes is strong … but those without these strong points won’t fare as well. During 2019, buildings between 5,000 and 100,000 s/f in size took up to 12 months to lease, and companies whose operations where in space of that size enjoyed explosive sales … but less than stellar financial strength. These companies can be categorized in the “e-commerce” industry, and these statistics have given property owners reason for concern. In the event that a tenant experiences a business downturn, securing a lease becomes more problematic.