Industrial properties, in general, have enjoyed strong rent growth and a low rate of vacancies during the pandemic. As people started to purchase goods online, it has created a tremendous demand for the warehouse to hold ordered items. Thus, retailers near highly populated areas where online orders can be loaded onto trucks and vans for local delivery have overly coveted their delivery spaces. Having these issues, retailers faced a scarcity of warehouses near populated cities since such space is rising in demand and value.
As the consumers want their shopping
lists to be directly delivered to the
home, but at the same time, they donβt
wish the truckers to drive down the
residential streets all day emitting
diesel fumes. Still, builders are
discovering innovative approaches to add
last-mile space near city centers.
Last,
βThe pandemic advanced us ten years in
the eCommerce business model,β said Bret
Jordan, the president of the northwest
region for the north area for his
companies; consequently, He claims the
pandemic has enhanced us ten responses,
and we must encounter to the conditions
in 2030.
