Cawley Chicago experts are highlighted in the 19th annual REjournals Industrial Forecast Conference providing an optimistic outlook for the new year.
Daniel Cawley, president, CEO and founder of Cawley Chicago, served as the moderator of the panel that included Joshua Hearne, SIOR, Principal at Cawley Chicago. Hearne, along with other industrial specialists on the panel, provided insight about 2020, the pandemic and what is to come in 2021 and beyond. The commentary and predictions were overwhelmingly positive.
Hearne countered any lingering pessimism about 2020 by pointing out some of the merits. For example, municipalities got projects approved and developed in less time after transitioning to virtual meetings. These virtual meetings resulted in less debate from community members, which led to the quicker approvals. Hearne expects 2021 to be just as busy with new development as 2020, if not busier.
“I think we will continue to see a wave of development in 2021,” Hearne said. “And a lot of that development will be going to high-density areas.”
The industrial sector of commercial real estate is one that remained the strongest through 2020 and the pandemic. Based on the expert panelists opinion, their success will continue into 2021.
Read more about the REjournals Industrial Forecast Conference here.