Industrial warehouse space has been at a premium since 2000. This is due to an increase of 86.2% in occupied distribution and warehouse space. When companies are involved with traditional freight moving, it’s vital to have sufficient distribution warehouse space to meet a variety of storage and processing needs.
The growth of E-commerce has put a slight strain on warehousing and distribution businesses. This is due to more and more Americans choosing to shop online and have their purchases delivered to their home or office. Over the next five years, E-commerce is expected to experience a compounded annual average growth rate of ten percent. As a result of this anticipated growth, there will be a considerable number of opportunities for companies that either own and/or develop warehouse and distribution space to meet this growing need.
Since there is an increased need for warehousing and distribution space, it’s more than likely that there will also be an increased demand for workers in a variety of warehouse positions. Currently, there are roughly 166,907 people within the United States that work in the storage and warehouse leasing industry. These men and women are employed in a variety of positions, which includes packing and shipping, quality control, transportation, and management.
If you’re currently looking for industrial warehouse space to rent or lease, you may already be anticipating the need fore more employees as well as additional space to store and process goods. Furthermore, if you have already been experiencing significant business growth, it’s not surprising that you need to locate additional space to address these growing demands. Whether you choose to rent, lease, or purchase a warehouse, it’s important to have enough square footage to allow for expansion. When determining warehouse space needs, it will obviously depend on the type of warehousing and distribution business you operate,
In the event that locating a warehouse to rent or lease has been a challenging process for your company, you may want to consider purchasing one instead. If you operate out of several locations in a specific area, you can potentially streamline your overall operations by owning one or more warehouses that are strategically located in that locale. Commercial real estate development is also a sound investment.