The Great Recession, in addition to technological advances, saw the rise and fall of many great industries. However, one industry that has remained constant throughout these tumultuous times is the warehousing and distribution industry. After all, people will always need goods, and the companies who manufacture and transport them will always need a place to store them before they are shipped out.
According to recent estimates, the warehouse leasing industry in the U.S. is worth nearly $26 billion with no signs of slowing down. In fact, quite the opposite. Warehouse development has steadily risen over the course of the past decade or so, and there has been an increase in speculative building. Roughly 62% of the 59 million square feet that was under construction at the end of the third quarter in 2013 was being built without signed tenants.
Since the start of the new millennium, the amount of occupied distribution warehouse has increased by a staggering 86.2%. As such, if there was ever a time for freight movers to consider renting a warehouse, it’s now.
Commercial warehousing provides freight movers, manufacturers, and other businesses with a number of storage options that makes transporting their goods easy, efficient, and cost effective. Renting a warehouse provides several benefits in addition to storage, and can help expedite a company’s entire operation by streamlining the transportation process.
Leasing commercial property, such as industrial warehouse space or manufacturing warehouse space can be extremely beneficial, and may be a better, less permanent option than buying commercial property. Commercial leases provide great flexibility, allowing businesses to work out an agreement and terms that align best with their needs.
Determining warehouse space needs depends greatly on the nature of the business or industry, as well as the amount of product they hope to store and distribute. However, when renting a warehouse, the property manager or owner can help tenants new to the industry reach a solution that works best for their needs.