With a record 100 ships waiting to dock and unload outside the Port of Los Angeles, President Biden's recent announcement that the port would operate 24/7 came as welcome news to those anxiously looking ahead to a busy holiday season.
It's the latest in an ongoing saga of disruptions in the global supply chain that began during the pandemic. That includes record demand for industrial warehouse space, which gets more intense by the day.
And then there's the issue of labor. Dock workers, truck drivers and even retail clerks are all in short supply. With what is expected to be the busiest quarter since the pandemic began, disruptions could drive industrial rents even higher, and leave retailers scrambling.
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