Blackwells Capital Activist Presentation Deck
INDUSTRIAL REAL ESTATE INDUSTRY FUNDAMENTALS
CBRE 2020 Outlook (pre-COVID)
Limited Effects of Trade Conflict
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BW
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Should the U.S.-China trade conflict persist or deepen, economic growth may suffer and have a
negative impact on I&L markets
Nevertheless, I&L market fundamentals remain extremely strong, and trade with China-while
important is not the only demand driver
If trade tensions continue, two factors must be watched: consumer spending, which has a direct
impact on industrial market dynamics, and supply chain restructuring, whereby import sourcing
shifts largely from China to other countries like Vietnam, Malaysia and India
Uncertainty will drive growth in the 3PL segment of the industrial market as companies outsource
operations. This will translate into more 3PL leasing activity-a trend that is already underway
Source: CBRE 2020 Industrial Real Estate Outlook.
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