Warehouse space is the little known part of commercial real estate. Investors in the industry and the media tend to focus on the trends for leasing of retail and office properties, but industrial space, including warehouses, is also an important part of the commercial real estate landscape. In fact, as more and more consumers make their purchases online, it should come as no surprise that warehouse space is in even higher demand than retail space in many areas of the country.
The warehousing and distribution industries are an increasingly popular investment. From smaller warehouse storage options in smaller communities to larger spaces outside of large metropolitan areas, commercial warehousing is an investment that requires careful attention to the latest trends in both pricing and projected needs. Being able to predict the growth in the number of people and businesses who are considering renting a warehouse space, in fact, is critical for investors who want to be successful.
Consider some of these facts and figures about the warehouse industry and the important role that it plays in the nation’s economy:
- Economic research indicates that the amount of occupied distribution and warehouse space has increased by 86.2% since the year 2010.
- Ceating tremendous opportunities for owners and developers of warehouse and distribution space, E-commerce is expected to grow at a compounded annual average rate of 10% over the next five years.
- 166,907 men and women in America work in the warehouse and storage leasing industry.
- The average age of an employee in the warehouse and storage industry is 33.
- Freight, stock, and material movers; industrial truck and tractor operators; and packers and packagers, are the top three occupations in the warehousing and storage industry.
- Part-time employees in the warehousing and storage industry work 24.3 hours and earn an average annual salary of $14,066. In comparison, full-time employees in this industry work 42.2 hours a week and have an average annual salary of $32,718.
Warehouse storage is an important of the nation’s economy. As more and more companies do more online business than sales in their brick and mortar locations, it should come as no surprise that warehouse space is at a premium in many parts of the country.