The sustained e-commerce surge continues to drive a considerable threefold demand for logistics space, requiring both expansive facilities and smaller, localized centers to facilitate speedy last-mile deliveries.
Despite headwinds, this soaring niche continues to attract an increasing number of investors. Industry experts expect substantial growth to continue, driven by increasing demand and need for temperature-controlled storage and transportation of food, pharmaceuticals and chemicals.
There was nowhere to go but up. In 2016, Dov Hertz, the No. 2 person at Gary Barnett’s Extell Development, made a late-career leap and started his own shop. He decided to focus on industrial, though as a New York City developer he had no experience with it: New Jersey’s sprawling industrial parks, comprising some 800
As retail struggles throughout the pandemic, there are many arguments for converting slumping shopping centers into new uses. Big box retail hasn’t suffered as much as mom-and-pop stores, gyms and restaurants. Still, investors and developers are looking to warehouse conversions as a way to take advantage of the higher returns and strong rental growth of
Industrial developer Jose Hernandez-Solaun of The Easton Group has seen Amazon spur the rise of e-commerce over the last few years. But now, he sees the coronavirus pandemic rapidly ramping up that growth — putting it on steroids. “What we are finding now is the coronavirus effect,” said Hernandez-Solaun. “If the Amazon effect was strength