Warehouse business catches fire, boosted by pandemic, e-commerce

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AFP

New York (AFP) – 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. “It’s been a tremendous struggle to find the appropriate location for clients,” said Michael Schipper of Blau & Berg, a commercial real estate specialist in New Jersey and New York. Available space has been dwindling steadily for a year and a half, and the vacancy rate is now 3.4 percent, although developers delivered 90 million square feet of new warehouse space in the first three…

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