How consumers shop for food is driving demand for cold storage facilities in new ways and new markets, according to a new report from Marcus & Millichap.
Even with the pandemic well behind us, households continue taking advantage of online delivery and pickup options for food. As food-related e-commerce operations have grown, so have tenants' needs for temperature-controlled storage facilities.
The grocery segment has the most upside for growth among major e-commerce sectors, according to the report, and should these recent demand trends for online grocery shopping continue, Marcus & Millichap estimates that the segment would become the largest e-commerce category by 2026 – which points directly for greater tenant needs for cold storage spaces.
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