CBRE: E-commerce driving warehouse construction in US

CBRE: E-commerce driving warehouse construction in US

Published at: 2019-06-21 12:42 | Author: CIJ USA
E-commerce demand is driving warehouse construction across the US, according to a new report from CBRE. At the end of the first quarter of 2019, warehouse construction in the US totaled 255 million sq ft. Just over 70 percent of warehouse space now under construction is being built on speculation. The national vacancy rate for warehousing is at 4.4 percent as demand has dramatically exceeded new supply in recent years, pushing rents up by 19.2 percent since 2015, writes CBRE. The report identifies New York/northern New Jersey, California’s Inland Empire, Los Angeles, Seattle and Las Vegas as the five top markets for spec warehouse construction. These areas offer below average vacancy rates and strong rental growth.

Similar Stories:

Monmouth Real Estate Investment buys Toyota Trusho America-leased shed in Indiana
Monmouth Real Estate Investment Corporation has picked up a newly industrial building in L  »
Monitor Holding closes on $16.5m sales of New York industrial property
Monitor Holding has closed on the $16.5m sale of its three-story industrial property in th  »
DH Property Holdings building Brooklyn distribution center
DH Property Holdings broke ground on an 85,000 sq ft, class A distribution center in the R  »
Endurance RE buys two south NJ warehouses along I-295 corridor
The Endurance Real Estate Group has closed on the disposition of a two-building industrial  »
The industrial sector of commercial real estate has changed radically over the past few ye   »
industrial logistics brokers are relying increasingly on data to help them find the best p   »
Scott Gregory, market officer at Prologis in Florida, says the breakdown can be seen geogr   »