Blackwells Capital Activist Presentation Deck
INDUSTRIAL REAL ESTATE INDUSTRY FUNDAMENTALS
The rising use of e-commerce is expected to create additional warehouse demand as consumers
continue social distancing even after states and cities reopen their economies
Established e-commerce hubs at major transportation centers should see strong fundamentals as
many occupiers recalibrate their supply chains and build automation and efficiencies into their
distribution networks
Super-regional distribution markets, such as Chicago and Dallas/Ft. Worth, appear particularly well
positioned because of their central locations
Top Market For Under-Construction Inventory Q1 2020
Ranking Market
1
Dallas
Atlanta
Houston
Inland Empire
Chicago
Phoenix
BW BLACKWELLS CAPITAL
2
3
4
5
6
7
8
9
10
Pennsylvania Corridor
Indianapolis
Central New Jersey
Memphis
Source: CBRE May 14, 2020.
Link: https://www.cbre.us/research-and-reports/US-MarketFlash-Distribution-Hubs-Will-Benefit-from-Increased-Business-Inventories.
Strictly Confidential & Trade Secret
MSF
23.9
23.2
22.1
21.2
17.4
14.4
1.9
12.3
11.8
9.3
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