October 20, 2021
Real Estate

As retailers stock up, real estate near ports sees record demand

Dive Brief:

  • Industrial real estate markets are seeing low vacancies and high rents, according to the North American Ports Report from Cushman & Wakefield.
  • Some industrial markets near port-adjacent areas are seeing more than 11% rent increases year-over-year. Vacancy rates were also low, particularly in Los Angeles, Vancouver, Savannah, Georgia and the state of New Jersey.
  • North American ports handled a record volume of over 13.8 million TEUs handled year-to-date, according to the report. Experts say there is no signs of slowing down.

Port-adjacent markets see high demand for industrial real estate

Industrial vacancy rates at the end of Q2 in each port-adjacent market

Dive Insight:

Companies are holding more than the usual inventory to prepare for the peak season, which causes less warehouse space to become available.

“People really want their stuff,…

Read full article here: www.supplychaindive.com