The perception of Amazon as a bellwether for the industrial sector made the announcement that it had over-expanded in the last two years a potentially worrying one. But, the fact that Amazon is only cutting back on a small proportion of its space, and mostly for a short period, should allay some concerns. And, with other retailers and logistics operators likely to infill that space quickly given low levels of market vacancy, we don’t feel the need to significantly downgrade our forecasts at this time.
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