On-Site Magazine

‘Big Box’ store construction remains strong

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March 9, 2016 by On-Site Magazine

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.

big box store construction 2But the big box construction market led the boom. There were 61 million square feet of big box space built in 2015, compared to just 9 million square feet in 2015.

“Businesses are now thinking more specifically about supply chains and are pivoting focus to delivery times,” Dwight Hotchkiss of Colliers explained. “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.

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