The big-box warehouse keeps getting bigger as e-commerce groups, third-party logistics firms and others are on the hunt for the largest distribution and manufacturing facilities they can find or build.
A supply chain crisis and severe labor shortages are creating mega challenges for developers—but industrial projects are pushing through. Demand for industrial space is so strong, and as a result the asset class remains “unencumbered” by labor shortages, according to Louis Archambault, an attorney at Saul Ewing Arnstein & Lehr.
The good news in office space: occupancy has been on the rise. But any CRE professional watching the markets knows about the shoe that next drops—it’s going to take a good amount of time—11 quarters, according to Costar and the National Association of Realtors—for things to get back to normal and all the space to be absorbed. If
New York is starting to get comfortable with the idea of growing its industrial warehouse space vertically instead of horizontally. Several multistory warehouses, which are common in Asia, are under development in the Bronx, Brooklyn and Queens. Rising on 14 acres in an Opportunity Zone in the Hunts Point neighborhood is the Bronx Logistics Center,
