Demand for warehouses or distribution centers of 200,000 square feet increased 25 percent in 2020 from the year prior, according to commercial real estate services firm CBRE, reports CNBC. Transactions in 2020 totaled 349.3 million square feet across the top 22 markets.
The firm anticipates this space will remain a competitive market, especially for grocery and food businesses, which need cold-storage facilities that are pricier and more limited than typical warehouses.
“We’re really just seeing the tip of the iceberg as far as demand and growth of e-commerce,” said Mindy Lissner, CBRE executive vice president. “The pandemic has had a huge impact on the growth of demand of warehousing and fulfillment. But it was already growing anyway … and the trend is going to continue.” Full Story
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