2026 Industrial Review: Jarrod Lewis, JCRG Commercial

What projects, initiatives, or types of work have been keeping your team busiest during the first half of 2026? The strongest trend affecting our work is the continued demand for modern, small-bay industrial and flex space from contractors, service businesses, distributors, and growing local companies. Rhode Island remains supply-constrained, particularly for clean, single-story space with convenient loading, highway access, and flexible unit sizes. Overall, the market is rewarding well-located, right-sized industrial product rather than oversized speculative warehouses. Our focus is meeting that practical demand with flexible, modern space designed for small-business users who have historically had limited quality options.

What trends or shifts have stood out most to you so far this year within your industry? Our team is currently focused on the development, leasing, and marketing of Mowry Hill Commons, a new construction small-bay industrial and flex project in Smithfield, Rhode Island. The development is designed around approximately 1,250-square-foot units that can be combined to accommodate growing businesses. We are also focused on educating the market about the advantages of modern, professionally managed small-bay space, particularly for businesses that have outgrown garages or older industrial properties. Beyond Mowry Hill, our team remains active in industrial leasing, in-vestment sales, site selection, and identifying additional development opportunities throughout Rhode Island and nearby Massachusetts.

What challenges or opportunities have had the biggest impact on your business during the first half of 2026? The biggest challenge is the shortage of modern, appropriately sized industrial space that remains affordable for small and growing businesses. Many available properties are either too large, outdated, poorly located, or require substantial improvements before occupancy. At the same time, higher construction costs, interest rates, insurance expenses, and oper-ating costs are placing pressure on both landlords and tenants. This creates a difficult balance: businesses want clean, flex-ible, professional space, but they must remain disciplined about occupancy costs. The challenge for the sector is deliver-ing high-quality industrial product at purchase/rental rates that support new development while still making financial sense for local businesses.

As we look ahead to the second half of the year, what are you watching most closely? The greatest opportunities are emerging in small-bay industrial and flex space designed for local businesses that need professional, functional space without committing to an oversized warehouse. Contractors, service companies, light in-dustrial users, distributors, and growing small businesses remain underserved by existing inventory. There is also oppor-tunity in repositioning older properties, creating flexible unit configurations, and developing sites near major highways and population centers. Projects offering efficient layouts, private restrooms, climate control, and the ability to combine units can attract a broad tenant base and support long-term occupancy.