{"id":21861,"date":"2023-03-14T12:37:28","date_gmt":"2023-03-14T12:37:28","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=21861"},"modified":"2023-03-14T12:37:29","modified_gmt":"2023-03-14T12:37:29","slug":"warehouse-boom-keeps-commercial-real-estate-afloat","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/warehouse-boom-keeps-commercial-real-estate-afloat\/","title":{"rendered":"Warehouse Boom Keeps Commercial Real Estate Afloat"},"content":{"rendered":"\n

The demand for warehouse space is at record levels. Retailers are on the hunt for more warehouses to help meet their growing e-commerce needs and fulfill online orders at quicker speeds, according to a new report from JLL, a commercial real estate services firm.<\/p>\n\n\n\n

Big box retailers like Walmart, Target, Big Lots, TJX, and Costco are aggressively competing for more warehouse space, trying to catch up to Amazon who has long been buying up warehouses across the country, JLL notes.<\/p>\n\n\n\n

\u201cWe\u2019ve been on a long-term journey of shifting consumer behavior from buying in stores to online,\u201d Craig Meyer, president of JLL Industrial for the Americas, told CNBC. \u201cThat\u2019s the existential driver for demand in the U.S.\u201d<\/p>\n\n\n\n

Warehouse demand is notably surging in places like Columbus, Ohio. Industrial real estate demand in Columbus is expected to jump 61% in 2021 compared to 2020, according to JLL. The firm notes that Columbus is an attractive market to retailers because nearly half of the nation\u2019s population is within a one-day drive.<\/p>\n\n\n\n

The demand for more warehouses is also reaching record levels in Savannah, Ga., where demand has increased by nearly 10 million square feet over the past year, JLL\u2019s report notes.<\/p>\n\n\n\n

As demand surges, rents are rising fast. Industrial taking rents surged nearly 10% in the first five months of 2021 compared to the same period a year earlier, according to CBRE data.<\/p>\n\n\n\n

\u201cMomentum in the marketplace is really strong, and this is against a backdrop where there\u2019s very high scarcity in our business,\u201d Chris Caton, head of Prologis, one of the largest firms of logistics real estate, told CNBC. \u201cVacancy rates in the U.S. are four-and-half percent, basically 40-year lows. There has never been less available to lease, at a time when customers really, really need it.\u201d<\/p>\n\n\n\n

\"\"<\/a>
Image by Jens P. Raak<\/a> from Pixabay<\/a><\/figcaption><\/figure>\n\n\n\n

\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

The demand for warehouse space is at record levels. Retailers are on the hunt for more warehouses to help meet their growing e-commerce needs and fulfill online orders at quicker speeds, according to a new report from JLL, a commercial real estate services firm. Big box retailers like Walmart, Target, Big Lots, TJX, and Costco … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-21861","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nWarehouse Boom Keeps Commercial Real Estate Afloat - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/warehouse-boom-keeps-commercial-real-estate-afloat\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/warehouse-boom-keeps-commercial-real-estate-afloat\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/warehouse-boom-keeps-commercial-real-estate-afloat\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Warehouse Boom Keeps Commercial Real Estate Afloat\",\"datePublished\":\"2023-03-14T12:37:28+00:00\",\"dateModified\":\"2023-03-14T12:37:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/warehouse-boom-keeps-commercial-real-estate-afloat\\\/\"},\"wordCount\":319,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/warehouse-boom-keeps-commercial-real-estate-afloat\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/high-level-rack-gcec35fbee_1280-1024x682.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/warehouse-boom-keeps-commercial-real-estate-afloat\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/warehouse-boom-keeps-commercial-real-estate-afloat\\\/\",\"name\":\"Warehouse Boom Keeps Commercial Real Estate Afloat - 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