Big Box stores show huge construction boom
A study by Colliers International found that 2015 was one of the strongest years to date for the industrial real estate sector in North America.
But the big box construction market led the boom. There were 61 million square feet of big box space built in 2011, compared to just 9 million square feet in 2011.
Dwight Hotchkiss of Colliers explained: “Businesses are now thinking more specifically about supply chains and are pivoting focus to delivery times. This is leading to an incredible surge in the big-box sector, which we define as a 300,000 square foot or larger building primarily used for distribution.”
The researchers expect the boom to continue. An additional 74 million square feet is under way for 2016.
Toronto was given as one of the key expanding markets. Leasing in the city amounted to 5.74 million square feet in 2015. The other seven key markets were all in the U.S.
Click here to read the report.