Consumers have become accustomed to receiving their items within a few days as a result of companies like Amazon and Walmart. So how do other businesses keep up? They purchase smaller warehouses to break up the distribution and shorten the shipping time and costs. In the current market, businesses are purchasing smaller multi-tenant warehouses, rather than additional larger industrial buildings.
As stated in the GlobeSt article, the occupancy rate for multi-tenant distribution buildings reached 97.3%. With an established company, the need for additional warehouses has grown to keep up with the competitive market and expectation of fast shipping. Companies are able to do so with having multiple facilities to house their product.
At Cawley Chicago we firmly believe in the value of any size commercial real estate property. Our submarket specialists know the value in your building or land, and location. Download the Industrial Advisory brochure to learn more about our expertise.