The e-commerce boom created a drastic increase in demand for industrial real estate, leaving many retailers and distributors tighter than normal on space in their warehouses and fulfillment centers. Though a larger structure or an additional facility may still eventually be in the cards, it may be possible to buy some more time from your current facility by getting the most out of the space you already have. If your warehouse has been in operation more than a couple of years, it’s likely that your ... Read More
Efforts to move container ship The Ever Given from the Suez Canal lasted for days as more than 40 other vessels were forced to reroute or adjust their trajectories to account for the logistical roadblock. The Ever Given's blockage of the Suez Canal drew into even sharper relief the limitations and weaknesses in a supply chain already compromised by the coronavirus pandemic. Read the full article at The Detroit News.
Though the COVID-19 pandemic drove business away from brick-and-mortar retail and caused an e-commerce boom, some retail sectors were already struggling to keep physical stores open. More than 9,000 stores closed in 2019. With many additional retail spaces left empty by pandemic-related consolidations and bankruptcies, the commercial real estate sector has struggled to come up with viable alternatives for these properties. Some retailers and property owners have begun experimenting with retail-to-logistics property conversions to meet skyrocketing demand for fulfillment space. For example, Amazon recently opened ... Read More