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e-Commerce Drives Need for Industrial Warehouse and Distribution Space
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(Posted on Mar 28, 2016 at 01:00PM by Michelle Bogle)
Last year was one of the strongest years for the industrial real estate sector in North America. There are a number of factors to thank for this uptick; however, there’s one that stands out above all else and that’s e-commerce.
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According to the U.S. Commerce Department, online sales accounted for more than half of the total retail sales growth in 2015. Web sales alone totaled $341.7 billion for the year, which was a 14.6% increase over 2014's $298.3 billion.
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With the demand for online shopping increasing each day, retailers are turning away from traditional brick and mortar storefronts towards large big box warehouses to act as main distribution points for online sales.
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These properties are massive – around 300,000 sq. ft. or more with ceiling heights 28 ft. or higher. The sturdy, spacious construction of these buildings makes it easier for retailers to receive, warehouse and ship goods efficiently and cost-effectively.
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As demand for industrial space continues to grow, so does the profit potential for local and foreign investors. There is big money to be made in e-commerce and all of these retailers need space to operate.
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Strike while the iron is hot! Contact our office for more insight on Vancouver’s industrial real estate sector.
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