Projects converting retail space into industrial space are continuing to grow, as e-commerce becomes more widespread and industrial rents reach all time highs, a new CBRE report finds.
Since 2017, a total of 13.8 million square feet of retail space has been converted to 15.5 million square feet of industrial space across the country, according to CBRE, which expects the trend to continue.
The survey found that 59 conversion projects were completed, proposed or underway since 2017, which is a substantial increase from a previous survey in January 2019, when only 24 projects were counted.
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Brenda Sapino Jeffreys
Senior reporter Brenda Sapino Jeffreys covers the business of law in Texas. Contact her at [email protected] On Twitter: @BrendaSJeffreys
