Nearly 1 Billion SF of Industrial Space Could Come Online by 2025
July 24, 2020
Originally published by Lauren Thomas of CNBC on July 9, 2020:
Demand for industrial real estate could require an extra 1 billion square feet by 2025. A call for more fulfillment centers is rising as e-commerce continues to grow bigger during the pandemic. Businesses find they need more warehouses to store boxes and keep up with demand from online shoppers. U.S. e-commerce sales could comprise about 14.5% of total retail sales ($709.78 billion) this year, according to the firm eMarketer. By the end of 2024, that could jump to 18.1%, with online sales surpassing $1 trillion for the first time.