Online Grocery Sales Could Increase Demand For Industrial Real Estate
Growth in online grocery sales could increase demand for industrial cold storage space, causing 35 million square feet of cold storage to shift from retail locations, according to a report by CBRE. Online purchases will make up 13% of all grocery sales by 2024, the report states. California would likely have the most industrial cold storage at nearly 400 million cubic feet.
Industrial building owners and investors take note!