The industrial and logistics asset class has been on a record tear as of late, driven in part by COVID-era shutdowns of physical retail and a boom in e-commerce spending. And that's forced developers to get creative in how they curate logistics and warehouse space that caters to changing occupier needs.
On one end of the spectrum, there are multi-level warehouses, which have finally made their way to North American markets, says Jeff Miller, Vice President, Industrial, Oxford Properties Group.
"We're seeing a lack of available land in dense markets, the price of land has really accelerated," Miller recently told Mariam Sobh, host of Avison Young's Changing Places podcast. "And lease rates have followed suit. So finally, you know, it justifies building these in select markets."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
