U.S. Warehouse Construction Booming in 2019, an Industrial Info Market Brief
Attachment: Warehouses
As online retailers continue to grab a larger share of the U.S. consumer market, traditional brick-and mortar retailers have had to keep pace in order to remain relevant. Many of these stores have expanded their online shopping experiences with rapid delivery options and other features that the "E-tailers" have been offering since their beginning. This has necessitated an explosion in warehouse construction, as these goods must be stored near the customers to facilitate rapid delivery. The real estate company and research firm CRBE has projected the available warehouse space has been about 170 million square feet short of demand every year since 2015. Consequently, projects have continued to grow in both number and size, as developers see the potential for the space they provide. Since January, Industrial Info has tracked 70 new warehouse/ distribution center projects valued at about $3.72 billion.
