The industrial and logistics asset class has been on a record tear as of late, driven in part by COVID-era shutdowns of physical retail and a boom in e-commerce spending. And that's forced developers to get creative in how they curate logistics and warehouse space that caters to changing occupier needs.
On one end of the spectrum, there are multi-level warehouses, which have finally made their way to North American markets, says Jeff Miller, Vice President, Industrial, Oxford Properties Group.
"We're seeing a lack of available land in dense markets, the price of land has really accelerated," Miller recently told Mariam Sobh, host of Avison Young's Changing Places podcast. "And lease rates have followed suit. So finally, you know, it justifies building these in select markets."
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