Green Street’s latest webinar, Pan-European Outlook: Patience is a Virtue, discussed the opportunities and challenges ahead in ’24 for Office, Retail, Industrial, Residential, Hotel, Health Care, Tower, and Self-Storage property sectors (watch the full webinar here). In this highlight clip, Senior Analyst Rob Virdee dives into the current forces shaping industrial demand and names ecommerce as the protagonist for recent declines.

While the shift towards ecommerce has been underway for two decades, the online sales explosion during the pandemic resulted in extremely high penetration rates and industrial take-up. A pullback from such euphoric levels was warranted, thus culminating in Green Street’s current viewpoint which Virdee opines on in the clip. Nonetheless, ecommerce continues to be a big structural tailwind for the sector.

Industrial supply has struggled to keep pace with voracious demand across most of the 30 markets in Green Street’s coverage universe for much of the last decade. According to Virdee, although supply growth is expected to slow in the next few years – due to increased construction costs and exit yields being pushed out – demand will also likely decline, but potentially at a far more rapid pace. This will allow the demand/supply imbalance to finally approach a near-term equilibrium.

Virdee’s commentary draws upon the extensive research and data available in Green Street’s robust web platform, which delivers actionable and unbiased macro, sector, market, company, and property-level analysis to drive more informed investment decisions.

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