Since 2010, nearly 90 million sq. ft. of these mega facilities have been completed in the top 10 markets. An additional 31.6 million sq. ft., with 60% pre-commitments, is under construction and scheduled for delivery by year-end 2018.
As e-commerce has become the preferred shopping method, warehouses size has increased to accommodate the larger volume needed to ship directly to consumers. In fact these warehouses require two to three times more space than traditional warehouses due to the increased inventory which requires more labor and automation.
Construction of industrial facilities measuring 1 million sq. ft. or more is strongest in large industrial markets that benefit from the booming e-commerce trend, according to a recent CBRE report.
Read the full article in MHLNews.com here.