Long Island Industrial Report 2Q 2020

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The Long Island Industrial Market has benefited from the expansion of E-Commerce, which has driven increased demand for warehouse and distribution centers. Although the industrial vacancies increased slightly with decelerating in rental rates, the Long Island Industrial Market as most US industrial markets has been the least inversely impacted compared to other asset types. The Gross Domestic Product (GDP) dropped significantly with a record low rate of negative 5 percent. Long Island’s unemployment rates dropped to 12.2% in May and 12.9% in June, falling from the record rate of 16.1% in April, which resulted in more than 407,000 unemployment since the pandemic.


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Long Island Industrial Report 2Q 2020

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Stephen Shapiro

SR Managing Director, Director of Operations

New York

Stephen Shapiro is an Executive Managing Director in Colliers International’s New York Capital Markets & Investment Services group. He sources and executes sales and capitalizations of investment real estate in the Tri-State Region; develops investment marketing and underwriting materials including offering memorandums, investment summaries, financial models, transaction analyses and property valuations; conducts property tours and interacts with investors during the marketing and due diligence process.

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