NEW YORK, June 19 — The rise of e-commerce and the logistical nightmare created by the Covid-19 pandemic have caused a surge in demand for warehouse space in the United States, and big investment funds have taken note.
Nationally, average rental costs have jumped 22 per cent in two years, according to analytics firm Beroe. Pioneered by Amazon, other retailers were obliged to scramble to catch up to the new standard of immediate delivery set by the Seattle-based online sales giant. To address those issues, he says, many companies are “now looking at facilities closer to home, which is naturally increasing the demand for warehousing,” he said.
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