Spec space: a return to the bad old days?

Industrial Workers

There is 9.1m sq ft of speculative development under way. But some question whether there is sufficient demand to absorb that supply.

Despite insatiable demand from online retailers, most of the big developers were merely dipping their toes in the water. The little spec that was built was mainly in the smaller size bracket of around 150,000 sq ft.

That has all changed this year. As demand for industrial and logistics space, especially from online retailers, continues to soar, developers have piled back into the spec market with gusto. A total of 9.1m sq ft is currently being constructed speculatively across the country, the highest since – you guessed it – 2007.

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