CBRE Group says there will be a rise in the demand for warehouse space due to changes to business supply chains as the nation's economy restarts.
For example, companies may well have to create more domestic supply chains in this new environment. An additional 400 to 500 million square feet of warehouse space is needed for a 5% uptick in business inventories, according to CBRE research.
"Markets with convenient access to seaports may offer very limited space options," according to the firm.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Ryan Tarinelli
Ryan Tarinelli is a reporter at the New York Law Journal. He is based at the New York State Capitol in Albany, New York. He can be reached through email at [email protected]. Follow him on Twitter: @ryantarinelli.
