There are fewer mega warehouses of 1 million square-feet-plus going up, tracking with reduced demand in retail and ecommerce and the challenged economy, according to CBRE, while smaller facilities in strategic locations near population centers are in short supply. Ecommerce companies accounted for seven of the top 100 deals from January through June, down 50% from 14 in 2022.
Fueled by continued growth in e-grocery and the sector overall, food and beverage saw more growth in terms of major warehouse leases in 2019 than did ecommerce, which slipped a bit, according to a report from CBRE on the 100 largest deals. The number of 3PL deals stayed the same, while the square footage dropped from 2018.
After years of an extremely tight market for commercial warehouse space, mostly due to the booming growth in ecommerce, a rapid increase in development including spec projects has been slowly closing the gap. See what the numbers show and how the market is trending.
The red carpet will be rolling out in Cincinnati on April 14. That’s when Multichannel Merchant will announce the winners of its annual Excellence in Customer Experience Awards its 2016 Operations Summit.
Beauty retailer Sephora is expected to open a new 655,800 square foot distribution center in Perryman, MD, just outside of Baltimore by May 2014.