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February 21, 2024
The industrial sector is going to be a mixed picture over the next three years. While development activity remains strong, supply is expected to grow faster than demand, signaling that new development will eventually begin to cool. E-commerce is currently a primary driver of new industrial development, with the use of artificial intelligence (“AI”) and the corresponding demand for data center space becoming a rising influence, ahead of cold storage and electric vehicle facilities. Drew Emmel, Partner at Allen Matkins, and Chris Rising, Co-Founder & CEO of Rising Realty Partners, discuss the factors influencing these trends as part of the Winter 2024 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey.