2020 Midyear North America Big Box Review and Outlook

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Big-Box Space Remains in High Demand Despite COVID-19 Repercussions

Colliers' Midyear 2020 North America Big-Box Market Report examines the North American big-box industrial market in the first six months of 2020, which includes the seven core North American big-box markets, as well as nine emerging secondary markets. We highlight the fundamentals, take a look at demand factors including demographics and logistics capabilities and assess what lies ahead for the remainder of 2020 and beyond.

While the COVID-19 pandemic negatively impacted the U.S. economy at the start of Q2 2020, the demand for industrial space managed to increase throughout this unique time. The accelerated growth of industrial industries in the U.S. maintained momentum throughout the pandemic, as industrial product – and big-box space, in particular – remained in high demand. Vacancy, transaction volume and product under construction remained relatively flat across the country, while asking rents and net occupancy surged in the first half of 2020.

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Amanda Ortiz

Director, National Industrial Research

Chicago - Rosemont

Amanda Ortiz is the Director, National Industrial Research on the National Marketing & Research team at Colliers. Based in Chicago, Amanda partners with national and local teams to deliver market intelligence initiatives and provide direction to drive national competitive advantage through research strategy, development and analytics.

Amanda possesses comprehensive experience in both database management and trend analysis. Her knowledge of the macro and micro factors affecting the commercial real estate market results in proactively positioned research.

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Pete Quinn

National Director, Industrial Services

Indianapolis

As National Director of Colliers Industrial Services-USA, Pete Quinn’s role is to strengthen Colliers platform and to collaborate with other key service lines ― Corporate Solutions, Investment Services, Occupier Services Groups, Logistics and Transportation Group ― to deliver a deep bench of logistics and site selection strategies to industrial user-groups and participants in the logistics, transportation and distribution industries.

Pete’s stand-out strengths are his commitment to understand corporations’ broader goals and challenges and then assembling a team of high-octane professionals to drive smart solutions to achieve those goals. During his 30 years in the industry, he has provided consulting and transactional representation for numerous Fortune 500 companies. 

Prior to Colliers, Pete Quinn was a co-founder of Summit Realty Group, an affiliate of Cushman & Wakefield. He then transitioned to join C&W’s Industrial leadership team as Executive Managing Director, Global Supply Chain Solutions and Industrial Operations. He served on its Global Supply Chain Solutions Group and was appointed to its Industrial Executive Board. Early in his career, he was on the developer side, serving as Vice President at Eaton & Lauth Commercial (now Lauth Group).

Notable industry acknowledgements: Recipient of IAMC Michael P. Hickey Award, Largest Deal in the U.S. – SIOR, Largest Deal of the Year – First Industrial, and Hall of Fame inductee of Midwest Real Estate News. 

Pete is actively involved in his alma mater, Purdue University, where he was a starting offensive lineman for its football team from 1978-1981 and team captain in 1979 and 1980. He was voted to Purdue’s 100-Year All Time Football team and is in his 26th season as Football Color Analyst on the Purdue Sports Radio Network.

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Jack Rosenberg

Executive Vice President

Chicago - Rosemont

I am a principal of Colliers International specializing in site acquisition, leasing, sales and build-to-suits for industrial users and developers. As the national director of the Colliers Logistics and Transportation Solutions Group Steering Committee (L&T), we deliver focused solutions to the increased challenges of today’s global shipping and transportation community. 

In the last five years, I have completed transactions totaling in excess of $300 million for clients like Best Buy, Bridgestone, Lawson Products, and Arvato Digital Services.

Other accomplishments include:

  • Top 10% producer for all brokers in the Colliers Americas region
  • Named Chicago Industrial Broker of the Year, 1999
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