Why Obsolete Warehouses on the ‘Last Mile’ Are Attracting Institutional Investors
REPOST: Patricia Kirk, National Real Estate Investor
As e-commerce sales continue to grow and customers expect their packages to arrive overnight, the locations of last mile warehouses become key for a speedy delivery. With this shift, dilapidated warehouses in urban areas have suddenly become coveted pieces of property and the rent prices are reflecting that. Distribution warehouse vacancies in urban areas are at record breaking lows and rents continue to rise. In this article, Patricia Kirk, National Real Estate Investor, calls for alternatives to the traditional warehouse system to be considered by industries looking to be at the forefront of e-commerce.