With e-commerce experiencing a boom, firms are spending millions of dollars to secure prime warehouse locations to shave precious hours off delivery times.
"The competition among e-commerce firms centers on capturing the best warehousing spots by anticipating pockets of consumer demand before their competitors do so," says Augusto Beato, CEO of Portland SEO. “It’s all about getting closer to the consumer."
Beato added that this is a very crucial time for any of the players who try to play in the new retail field.
After more than seven years of a steadily falling U.S. vacancy rate, there is a voracious appetite for the industrial real estate. Demand for warehouse space in proximity to households is driving the sector as e-commerce’s growing impact extends well beyond brick-and-mortar retail.
The transportation, logistics and distribution industry continues to be a primary market driver throughout the country.
The industrial real estate ended the second quarter with an average asking rental rate of $6.27 per square foot, reflecting annual rent growth of 10.5 percent, according to a new report from Transwestern. Vacancy closed the quarter at 4.7 percent.
"Whichever player can connect all the data and make the whole flow from customer to supply chain to logistics will have the best opportunity to create the most efficient network," Beato quipped.
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