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Art Rasmussen Art Rasmussen

Grocery sales are moving online. According to research from CBRE, grocery sales will largely move from brick-and-mortar retailers to online retailers in the next seven years. As a result, there will be a need for up to 35 million more square feet of cold-storage industrial space to accommodate the online sales. In addition to grocery sales, the increase in restaurant and food hall concepts is also contributing to the demand for cold-storage industrial facilities. Highly populated urban markets will see the biggest demand for these spaces. To find out more about the increase in online grocery sales and how it will impact the commercial real estate market, we sat down with Art Rasmussen, SVP of food facilities group at CBRE, and Patrick Wade, SVP specializing in retail investment properties at CBRE.

GlobeSt.com: Online grocery concepts aren’t new. What is driving the growth of online grocery shopping now?

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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