LONG BEACH, CA—Industrial real estate leaders who converged from across North America at NAIOP's I.CON West and agreed that the market is at a high point rarely seen, but that seemingly unending demand for warehouse space creates a new set of challenges.
One of those is finding enough land to build new warehouses – large enough parcels to accommodate parking and space for containers – and properties that are close enough to accommodate the "last mile," the short distance increasingly required for faster delivery times.
Patrick Schlehuber, executive vice president, investments, Rexford Industrial Realty, Inc., said that this means searching for industrial space raises the same question as in a search for retail space: How close is the site to the greatest number of homes?
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