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Warehouse supply rises but still can't match urban demand
One-day and same-day deliveries are causing companies to need warehouse space closer to the dense urban areas they are serving. However, this land is scarce, expensive and involves a long development process.
“More than 2,000 new establishments classified as either warehouse or storage have been added to the U.S. market since 2008.”
“Retail sales made online in the third quarter of 2018 totaled more than $130 billion, representing an increase of 14.5% from the same quarter in 2017.”
“Forrester Research expects the annual total for online retail sales to surpass $712 billion by 2022.”
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